Philippine stocks ended flat Monday as investors stayed on the sidelines while waiting for the respective policy meetings of the US Federal Reserve and
the Bangko Sentral ng Pilipinas .
Four of the six indices ended in the red. Mining and oil declined by 1.01 percent, industrial by 0.89 percent, property by 0.44 percent and services by 0.25 percent.Value turnover reached P4.45 billion. Foreign investors were net sellers, with total outlaws amounting to P495.9 million. Observers are also tracking developments in Seoul after South Korean lawmakers impeached President Yoon Suk Yeol at the weekend in the wake of his short-lived declaration of martial law this month.
That came after investors were left unimpressed last week with Beijing’s pledge to introduce measures aimed at “lifting consumption vigorously” as part of a stimulus drive. Elsewhere in Asia, there were also losses in Sydney, Mumbai, Bangkok, Manila and Jakarta, though Singapore, Wellington and Taipei rose. Tokyo was flat.
The Fed is widely expected to cut interest rates again Wednesday but there are fears it will have to slow its pace of easing next year owing to sticky inflation and bets that president-elect Donald Trump’s tax cuts and tariffs will reignite prices.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippine Army hosts convention to strengthen reserve forcesThe Philippine Army strengthened its Reserve Force with a two-day Ready Reserve Unit (RRU) Commanders Convention held at 4ID Headquarters, Camp
Read more »
Philippine President Expresses Concern Over Russian Submarine in West Philippine SeaPresident Ferdinand Marcos Jr. has expressed worry over the detection of a Russian attack submarine in the West Philippine Sea (WPS). The submarine, UFA 490, was sighted 80 nautical miles west of Cape Calavite, with the Philippine Navy deploying assets to monitor and address the situation.
Read more »
Russian sub only sought refuge—AFPPresident Marcos on Monday expressed concern over a Russian submarine’s intrusion in the West Philippine Sea (WPS) last week, even while the Philippine
Read more »
Philippine Stock Exchange Sees Over P100 Billion in Fundraising Next YearThe Philippine Stock Exchange Inc. (PSE) expects fundraising efforts through the equities market to exceed P100 billion in the next year, fueled by the country's strong macroeconomic prospects. PSE president and CEO Ramon Monzon has indicated that capital raising through the local bourse has already reached P79 billion for next year, potentially rising to P120 billion. This includes initial public offerings (IPOs), follow-on offerings, stock rights offerings, and private placements. The PSE is also optimistic about facilitating at least six public market debuts through IPOs next year.
Read more »
Philippine Stock Market Drops Amid Trump's Comments on ImportsPhilippine stock market fell Tuesday due to investor concerns over US president-elect Donald Trump's comments on increasing tariffs on imports from Mexico, Canada, and China. The peso also hit a low against the US dollar.
Read more »
The 2024 Toyota GR Philippine Cup ended with Iñigo Anton taking the goldCheck out the full list of winners here
Read more »