Local stocks plunged below the 6,200 level anew yesterday as investors continued to monitor the ongoing conflict between Israel and Hamas.
The last time the PSEi fell below the 6,200 mark was on Oct. 5, when it dropped to 6,178.60 after consumer inflation picked up to its highest rate in four months.
For this week, Limlingan said there would be a number of key economic data releases in the US, while no significant economic data is scheduled for the Philippines. Asia was in the red, with Tokyo off two percent, while there were also steep losses in Hong Kong, Shanghai, Singapore, Seoul, Taipei, Bangkok, Wellington, Jakarta and Manila.“As a result of this continuing uncertainty and the war of words being played out in plain sight it’s hard to see much in the way of upside for stock markets unless there is a dialling back in the tension which is currently convulsing the region,” said Michael Hewson at CMC Markets.
Malaysia said it would impose new taxes and cut subsidies to boost the nation’s fiscal position as it faces headwinds...
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