THE peso and the stock market posted a rebound on Wednesday following a two-day decline as sentiment rose on hopes that the US Federal Reserve (Fed) could cut interest rates more than once this year.
THE peso and the stock market posted a rebound on Wednesday following a two-day decline as sentiment rose on hopes that the US Federal Reserve could cut interest rates more than once this year.The currency strengthened by 7 centavos to P58.725:$1 while the benchmark Philippine Stock Exchange index climbed 1.43 percent, or 91.07 points, to close at 6,450.03.The broader All Shares index also rose, by 32.46 points or 0.94 percent, to 3,495.13.The peso opened at P58.
research and engagement officer Mikhail Plopenio, meanwhile, said the PSEi rose 'as investors hunted for bargains after a two-day decline.''Positive cues from Wall Street also fueled this Wednesday's climb with the bourse joining its neighboring peers in the green territory at the session's close,' he added.'Inflows from foreign funds gave the market a boost as foreigners were net buyers with net inflows amounting to P22.09 million.
Street Gains Fuel Peso Stocks Rebound
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.
Stock market today (June 5, 2024): Asian stocks trade mixed after Wall Street logs modest gainsAsian shares traded mixed Wednesday, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street. Japan's benchmark Nikkei 225 shed 1.0% in early trading to 38,448.61. Australia's S&P/ASX 200 edged up 0.3% to 7,759.20. South Korea's Kospi jumped 1.2% to 2,695.02.
Read more »
Apple brings ChatGPT and more AI to devices, Wall Street yawnsWall Street – looking for more dazzling AI features and reassurance that would put Apple in good standing to compete on AI with Microsoft – is lukewarm on the event, with Apple shares closing down nearly 2%
Read more »
Batang PBA 11-Under tourney gets going WednesdayDefining the News
Read more »
Dangerous heat index expected in 34 areas on WednesdayLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Stock market today (June 19, 2024): Global stocks are mixed after Wall Street edges to more records | Zimo ZhongWorld stocks were mixed on Wednesday after U.S. benchmarks ticked to more records following the latest signs that the U.S. economy may be slowing without falling into recession. The future for the Dow Jones Industrial Average was down 0.1% while that for the S&P 500 rose 0.1%. U.S.
Read more »
FACT CHECK: Video doesn’t show Antarctica as an ‘ice wall’ around ‘flat Earth’The video misrepresents the Anjihai Grand Canyon in Xinjiang, China as the Antarctica ‘ice wall,’ claiming it as proof of the scientifically disproven flat Earth theory
Read more »