\n
PHILIPPINE SHARES rebounded on Thursday amid expectations of better inflation data for December.
\nThe Philippine Stock Exchange index (PSEi) gained 103.64 points or 1.59% to end at 6,602.52 on Thursday, while the broader all shares index rose 35.52 points or 1.02% to close at 3,485.76.
\n\u201cThis Thursday, the local market rose by 103.64 points to 6,602.52 on the back of hopes that headline inflation in the Philippines had further declined last December. Supporting the said hopes is the midpoint of the Bangko Sentral ng Pilipinas\u2019 (BSP) 3.6-4.4% range forecast which is below the preceding month\u2019s 4.1%,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.
\nThe Philippine Statistics Authority will release December consumer price index data on Friday.
\nA BusinessWorld poll last week yielded a median estimate of 4% for December headline inflation, within the BSP\u2019s 3.6-4.4% forecast for the month. This is slightly slower than the 4.1% in November but significantly below the 8.1% in December 2022.
\nIf realized, December could mark the first time that inflation met the central bank\u2019s 2-4% target after 20 straight months. It would also be the slowest since the 3% print in February 2022.
\nThis would bring the 2023 inflation average to 6%, matching the BSP\u2019s baseline forecast.
\n\u201cThe index surged above the 6,600 level and reached its highest close in more than five months as investors positioned ahead of the release of the Philippine December inflation print on Friday,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet likewise said in a Viber message.
\n\u201cThe PSEi bucked the fall of most Asian markets as traders bought up local stocks on expectations that domestic headline inflation last month cooled to 4%, which is within the BSP\u2019s target inflation range,\u201d Mr. Colet added.
\nAsian shares fell on Thursday as traders dialed back bets of steep and early rate cuts this year, with the minutes of the US Federal Reserve\u2019s last meeting providing few clues on when US cuts might start, Reuters reported.
\nMSCI\u2019s broadest index of Asia-Pacific shares outside Japan fell 0.17% and was headed for the third straight day of losses.
\nBack home, almost all sectoral indices ended higher on Thursday. Property increased by 78.36 points or 2.77% to 2,907.31; financials climbed by 30.76 points or 1.78% to 1,754.47; services rose by 25.86 points or 1.59% to 1,651.63; holding firms went up by 71.46 points or 1.13% to 6,360.48; and industrials added 33.14 points or 0.36% to end at 9,137.63.\u00a0
\nMeanwhile, mining and oil dropped by 77.40 points or 0.78% to 9,777.89.\u00a0
\nValue turnover climbed to P5.18 billion on Thursday with 461.64 million issues changing hands from the P3.11 billion with 182.7 million shares seen on Wednesday.
\nAdvancers outnumbered decliners, 110 to 85, while 46 issues ended unchanged.\u00a0
\nNet foreign buying stood at P768.3 million on Thursday versus the P260.5 million in net selling seen the prior day. \u2014 R.M.D. Ochave with Reuters
\n", "content_text": "PHILIPPINE SHARES rebounded on Thursday amid expectations of better inflation data for December.\nThe Philippine Stock Exchange index (PSEi) gained 103.64 points or 1.59% to end at 6,602.52 on Thursday, while the broader all shares index rose 35.52 points or 1.02% to close at 3,485.76.\n\u201cThis Thursday, the local market rose by 103.64 points to 6,602.52 on the back of hopes that headline inflation in the Philippines had further declined last December. Supporting the said hopes is the midpoint of the Bangko Sentral ng Pilipinas\u2019 (BSP) 3.6-4.4% range forecast which is below the preceding month\u2019s 4.1%,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.\nThe Philippine Statistics Authority will release December consumer price index data on Friday.\nA BusinessWorld poll last week yielded a median estimate of 4% for December headline inflation, within the BSP\u2019s 3.6-4.4% forecast for the month. This is slightly slower than the 4.1% in November but significantly below the 8.1% in December 2022.\nIf realized, December could mark the first time that inflation met the central bank\u2019s 2-4% target after 20 straight months. It would also be the slowest since the 3% print in February 2022.\nThis would bring the 2023 inflation average to 6%, matching the BSP\u2019s baseline forecast.\n\u201cThe index surged above the 6,600 level and reached its highest close in more than five months as investors positioned ahead of the release of the Philippine December inflation print on Friday,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet likewise said in a Viber message.\n\u201cThe PSEi bucked the fall of most Asian markets as traders bought up local stocks on expectations that domestic headline inflation last month cooled to 4%, which is within the BSP\u2019s target inflation range,\u201d Mr. Colet added.\nAsian shares fell on Thursday as traders dialed back bets of steep and early rate cuts this year, with the minutes of the US Federal Reserve\u2019s last meeting providing few clues on when US cuts might start, Reuters reported.\nMSCI\u2019s broadest index of Asia-Pacific shares outside Japan fell 0.17% and was headed for the third straight day of losses.\nBack home, almost all sectoral indices ended higher on Thursday. Property increased by 78.36 points or 2.77% to 2,907.31; financials climbed by 30.76 points or 1.78% to 1,754.47; services rose by 25.86 points or 1.59% to 1,651.63; holding firms went up by 71.46 points or 1.13% to 6,360.48; and industrials added 33.14 points or 0.36% to end at 9,137.63.\u00a0\nMeanwhile, mining and oil dropped by 77.40 points or 0.78% to 9,777.89.\u00a0\nValue turnover climbed to P5.18 billion on Thursday with 461.64 million issues changing hands from the P3.11 billion with 182.7 million shares seen on Wednesday.\nAdvancers outnumbered decliners, 110 to 85, while 46 issues ended unchanged.\u00a0\nNet foreign buying stood at P768.3 million on Thursday versus the P260.5 million in net selling seen the prior day. \u2014 R.M.D. Ochave with Reuters", "date_published": "2024-01-04T21:00:19+08:00", "date_modified": "2024-01-04T18:36:36+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-bell-1.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=566730", "url": "https://www.bworldonline.com/stock-market/2024/01/03/566730/local-stocks-decline-on-pmi-data-profit-taking/", "title": "Local stocks decline on PMI data, profit taking", "content_html": "\n
STOCKS dropped on Wednesday amid data showing slower Philippine manufacturing activity growth, profit taking after Tuesday\u2019s rally and amid a trading halt that was lifted before noon.
\nThe Philippine Stock Exchange index (PSEi) declined by 55.16 points or 0.84% to end at 6,498.88 on Wednesday, while the broader all shares index fell by 15.73 points or 0.45% to close at 3,450.24.
\nMarket sentiment soured following the slowdown in the S&P Global Philippines Manufacturing Purchasing Managers\u2019 Index (PMI) in December, Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\u00a0
\nThe S&P Global Philippines Manufacturing PMI stood at 51.5 in December, lower than the nine-month high of 52.7 in November. A PMI reading above 50 denotes better operating conditions than in the preceding month, while a reading below 50 shows a deterioration.
\nThe December figure was the weakest in three months or since the 50.6 reading in September.
\n\u201cTrading in the market was halted by the exchange in the morning, then it resumed before the market recess and continued in the afternoon,\u201d Ms. Alviar added.\u00a0
\nThe PSE halted trading on Wednesday morning. Trading resumed at 11:56 am.
\n\u201cThe Philippine Stock Exchange, Inc. encountered a technical issue that prompted it to halt trading at 9:32 a.m. on Jan. 3, 2024, Wednesday… PSE and its third-party front-end system provider continue to investigate the matter to identify the root cause,\u201d the bourse operator said in a statement.
\nWhile the trading break did not necessarily cause Philippine shares to drop, activity was still disrupted, China Bank Capital Corp. Managing Director Juan Paolo E. Colet said.
\n\u201cA market glitch for more than two hours is a terrible way to greet the new year. If we aim to boost trading volumes in the local stock market, then we need to ensure the reliability of the PSE\u2019s infrastructure,\u201d Mr. Colet said.
\nProfit taking after Tuesday\u2019s climb caused the PSEi to drop on Wednesday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
\nAll sectoral indices finished lower on Wednesday. Financials declined by 22.90 points or 1.31% to 1,723.71; services went down by 16.67 points or 1.01% to 1,625.77; industrials retreated by 57.13 points or 0.62% to 9,104.49; holding firms dropped by 34.35 points or 0.54% to 6,289.02; mining and oil decreased by 30.64 points or 0.31% to 9,855.29; and property inched down by 6.66 points or 0.23% to 2,828.95.\u00a0
\nValue turnover went down to P3.11 billion on Wednesday with 182.7 million shares changing hands, from P3.66 billion with 379.8 million issues the previous day.
\nAdvancers edged out decliners, 74 against 71, while 49 names ended unchanged.
\nNet foreign selling stood at P260.5 million on Wednesday versus the P443.11 million in net buying seen the previous session.
\nMr. Ricafort put the PSEi\u2019s immediate support at 6,320-6,410. \u2014 RMDO
\n", "content_text": "STOCKS dropped on Wednesday amid data showing slower Philippine manufacturing activity growth, profit taking after Tuesday\u2019s rally and amid a trading halt that was lifted before noon.\nThe Philippine Stock Exchange index (PSEi) declined by 55.16 points or 0.84% to end at 6,498.88 on Wednesday, while the broader all shares index fell by 15.73 points or 0.45% to close at 3,450.24.\nMarket sentiment soured following the slowdown in the S&P Global Philippines Manufacturing Purchasing Managers\u2019 Index (PMI) in December, Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\u00a0\nThe S&P Global Philippines Manufacturing PMI stood at 51.5 in December, lower than the nine-month high of 52.7 in November. A PMI reading above 50 denotes better operating conditions than in the preceding month, while a reading below 50 shows a deterioration.\nThe December figure was the weakest in three months or since the 50.6 reading in September.\n\u201cTrading in the market was halted by the exchange in the morning, then it resumed before the market recess and continued in the afternoon,\u201d Ms. Alviar added.\u00a0\nThe PSE halted trading on Wednesday morning. Trading resumed at 11:56 am.\n\u201cThe Philippine Stock Exchange, Inc. encountered a technical issue that prompted it to halt trading at 9:32 a.m. on Jan. 3, 2024, Wednesday… PSE and its third-party front-end system provider continue to investigate the matter to identify the root cause,\u201d the bourse operator said in a statement.\nWhile the trading break did not necessarily cause Philippine shares to drop, activity was still disrupted, China Bank Capital Corp. Managing Director Juan Paolo E. Colet said.\n\u201cA market glitch for more than two hours is a terrible way to greet the new year. If we aim to boost trading volumes in the local stock market, then we need to ensure the reliability of the PSE\u2019s infrastructure,\u201d Mr. Colet said.\nProfit taking after Tuesday\u2019s climb caused the PSEi to drop on Wednesday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message. \nAll sectoral indices finished lower on Wednesday. Financials declined by 22.90 points or 1.31% to 1,723.71; services went down by 16.67 points or 1.01% to 1,625.77; industrials retreated by 57.13 points or 0.62% to 9,104.49; holding firms dropped by 34.35 points or 0.54% to 6,289.02; mining and oil decreased by 30.64 points or 0.31% to 9,855.29; and property inched down by 6.66 points or 0.23% to 2,828.95.\u00a0\nValue turnover went down to P3.11 billion on Wednesday with 182.7 million shares changing hands, from P3.66 billion with 379.8 million issues the previous day.\nAdvancers edged out decliners, 74 against 71, while 49 names ended unchanged.\nNet foreign selling stood at P260.5 million on Wednesday versus the P443.11 million in net buying seen the previous session.\nMr. Ricafort put the PSEi\u2019s immediate support at 6,320-6,410. \u2014 RMDO", "date_published": "2024-01-03T21:00:52+08:00", "date_modified": "2024-01-03T18:40:23+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/09/PSE-board.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=566412", "url": "https://www.bworldonline.com/stock-market/2024/01/02/566412/shares-climb-on-expectations-of-easing-inflation/", "title": "Shares climb on expectations of easing inflation", "content_html": "\n
PHILIPPINE SHARES closed higher on the first trading day of 2024 as investor sentiment was lifted by expectations of slower inflation in December.
\nThe benchmark Philippine Stock Exchange index (PSEi) jumped by 104 points or 1.61% to end at 6,554.04 on Tuesday, while the broader all shares index rose by 41.38 points or 1.2% to close at 3,465.97.\u00a0
\n\u201cWe welcome 2024 with hopes of a better performance for the stock market. We are also optimistic that our regulator will continue to support the initiatives we will introduce to boost participation and liquidity in the market,\u201d PSE President and CEO Ramon S. Monzon said in a statement.
\nShares rose on Tuesday as inflation likely slowed further last month, Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.
\n\u201cThe possibility that inflation rate would settle within the 2-4% target of the government in December lifted market sentiment. Investors were also waiting for some economic data set to be released this week,\u201d Ms. Alviar added.\u00a0
\nHeadline inflation likely eased to 4% in December, according to the median estimate of a BusinessWorld poll conducted last week. This is within the 3.6-4.4% forecast of the Bangko Sentral ng Pilipinas (BSP) for the month.
\nIf realized, December would mark the first time that inflation met the BSP\u2019s 2-4% target and the slowest since the 3% print in February 2022.
\nAt 4%, December inflation would be a tad slower than 4.1% in November and significantly lower than 8.1% in December 2022.
\nThis would bring the 2023 inflation average to 6%, matching the BSP\u2019s baseline forecast.
\nThe Philippine Statistics Authority will release December inflation data on Friday.
\n\u201cThe market\u2019s rally is due to the seasonally strong period of New Year\u2019s optimism and growing interest rate cut bets in 2024,\u201d First Metro Investment Corp. Head of Research Cristina S. Ulang added in a Viber message.
\nThe majority of sectoral indices climbed on Tuesday. Holding firms rose by 217.37 points or 3.56% to 6,323.37; services increased by 37.45 points or 2.33% to 1,642.44; industrials went up by 85.71 points or 0.94% to 9,161.62; and financials added 7.73 points or 0.44% to end at 1,746.61.
\nOn the other hand, mining and oil fell by 114.50 points or 1.14% to 9,885.93, and property dropped by 19.33 points or 0.67% to 2,835.61.\u00a0
\n\u201cThe mining sector was at the bottom, down by 1.14%, weighed by the performance of Nickel Asia Corp., which declined by 3.83%,\u201d Ms. Alviar said.\u00a0
\nValue turnover dropped to P3.66 billion on Tuesday with 379.80 million issues switching hands from the P4.88 billion with 1.12 billion shares seen on Friday.
\nAdvancers outnumbered decliners, 100 to 77, while 47 names closed unchanged.\u00a0
\nNet foreign buying rose to P443.11 million on Tuesday from P208.97 million on Friday. \u2014 R.M.D. Ochave
\n", "content_text": "PHILIPPINE SHARES closed higher on the first trading day of 2024 as investor sentiment was lifted by expectations of slower inflation in December.\nThe benchmark Philippine Stock Exchange index (PSEi) jumped by 104 points or 1.61% to end at 6,554.04 on Tuesday, while the broader all shares index rose by 41.38 points or 1.2% to close at 3,465.97.\u00a0\n\u201cWe welcome 2024 with hopes of a better performance for the stock market. We are also optimistic that our regulator will continue to support the initiatives we will introduce to boost participation and liquidity in the market,\u201d PSE President and CEO Ramon S. Monzon said in a statement.\nShares rose on Tuesday as inflation likely slowed further last month, Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\n\u201cThe possibility that inflation rate would settle within the 2-4% target of the government in December lifted market sentiment. Investors were also waiting for some economic data set to be released this week,\u201d Ms. Alviar added.\u00a0\nHeadline inflation likely eased to 4% in December, according to the median estimate of a BusinessWorld poll conducted last week. This is within the 3.6-4.4% forecast of the Bangko Sentral ng Pilipinas (BSP) for the month.\nIf realized, December would mark the first time that inflation met the BSP\u2019s 2-4% target and the slowest since the 3% print in February 2022.\nAt 4%, December inflation would be a tad slower than 4.1% in November and significantly lower than 8.1% in December 2022.\nThis would bring the 2023 inflation average to 6%, matching the BSP\u2019s baseline forecast.\nThe Philippine Statistics Authority will release December inflation data on Friday.\n\u201cThe market\u2019s rally is due to the seasonally strong period of New Year\u2019s optimism and growing interest rate cut bets in 2024,\u201d First Metro Investment Corp. Head of Research Cristina S. Ulang added in a Viber message.\nThe majority of sectoral indices climbed on Tuesday. Holding firms rose by 217.37 points or 3.56% to 6,323.37; services increased by 37.45 points or 2.33% to 1,642.44; industrials went up by 85.71 points or 0.94% to 9,161.62; and financials added 7.73 points or 0.44% to end at 1,746.61.\nOn the other hand, mining and oil fell by 114.50 points or 1.14% to 9,885.93, and property dropped by 19.33 points or 0.67% to 2,835.61.\u00a0\n\u201cThe mining sector was at the bottom, down by 1.14%, weighed by the performance of Nickel Asia Corp., which declined by 3.83%,\u201d Ms. Alviar said.\u00a0\nValue turnover dropped to P3.66 billion on Tuesday with 379.80 million issues switching hands from the P4.88 billion with 1.12 billion shares seen on Friday.\nAdvancers outnumbered decliners, 100 to 77, while 47 names closed unchanged.\u00a0\nNet foreign buying rose to P443.11 million on Tuesday from P208.97 million on Friday. \u2014 R.M.D. Ochave", "date_published": "2024-01-02T21:00:50+08:00", "date_modified": "2024-01-02T18:40:02+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/03/PSE-stocks-bell.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=566142", "url": "https://www.bworldonline.com/stock-market/2024/01/01/566142/stocks-may-rebound-this-year-as-rates-go-down/", "title": "Stocks may rebound this year as rates go down", "content_html": "\n
PHILIPPINE SHARES may rise this year as a robust economic outlook and expectations of monetary policy easing could lift market sentiment, analysts said.
\nThe Philippine Stock Exchange index (PSEi) ended at 6,450.04 on Dec. 29, the last trading day of 2023. This was down by 116.35 points or 1.8% from its 6,566.39 finish at end-2022.
\nThe market took a \u201crollercoaster ride\u201d in 2023, China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.
\n\u201cWe peaked in January, trended down in February, went into a sideways pattern from mid-March to August, cratered and ultimately hit the year\u2019s intraday bottom on the last day of October, after which the index staged a strong rally,\u201d Mr. Colet said.
\nStill, even after a weaker year for the Philippine stock market, the PSEi may rebound this year and could even climb to as high as 7,500, Mr. Colet said.
\n\u201cWe expect Philippine equities to do well in 2024, primarily on the back of better macroeconomic data and a dovish shift in monetary policy. Other factors that could attract funds to the stock market are capital markets reforms as well as significant progress in steps to liberalize the economic provisions of the Constitution,\u201d he said.
\nThe Bangko Sentral ng Pilipinas (BSP) is widely expected to begin cutting benchmark interest rates this year to keep a healthy differential with the US Federal Reserve.
\nHowever, BSP Governor Eli M. Remolona, Jr. last month said the central bank is unlikely to cut borrowing costs in the next few months and is leaning towards keeping rates higher for longer.
\nThe central bank raised benchmark interest rates by a total of 450 basis points from May 2022 to October 2023, bringing the policy rate to a 16-year high of 6.5%.
\nThe index could retest the 6,700 to 7,000 levels this year, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort added in a Viber message.
\n\u201cThe PSEi could rebound in 2024 and could be positively affected by and play catch up with the bullishness in the United States and other major global stock markets,\u201d Mr.\u00a0Ricafort said.\u00a0
\n\u201cFor early 2024, there is a good chance for start of the year gains amid the possible tail end of the Santa Claus rally on Wall Street,\u201d he said.\u00a0
\nHowever, investors could remain cautious during the first trading week of the year amid a lack of catalysts, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.
\nDecember inflation data to be released on Friday could drive trading in the coming days, he said.
\n\u201cAn inflation print lower than the preceding month\u2019s 4.1%, especially one which is near the lower end of the BSP\u2019s 3.6-4.4% forecast range, may spur positive sentiment in the market. However, one which is faster than the preceding month may weigh on the local bourse,\u201d Mr. Tantiangco added.
\nHe put the PSEi\u2019s support at 6,400 and resistance at 6,700 for this week. \u2014 R.M.D. Ochave
\n", "content_text": "PHILIPPINE SHARES may rise this year as a robust economic outlook and expectations of monetary policy easing could lift market sentiment, analysts said.\nThe Philippine Stock Exchange index (PSEi) ended at 6,450.04 on Dec. 29, the last trading day of 2023. This was down by 116.35 points or 1.8% from its 6,566.39 finish at end-2022.\nThe market took a \u201crollercoaster ride\u201d in 2023, China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.\n\u201cWe peaked in January, trended down in February, went into a sideways pattern from mid-March to August, cratered and ultimately hit the year\u2019s intraday bottom on the last day of October, after which the index staged a strong rally,\u201d Mr. Colet said.\nStill, even after a weaker year for the Philippine stock market, the PSEi may rebound this year and could even climb to as high as 7,500, Mr. Colet said.\n\u201cWe expect Philippine equities to do well in 2024, primarily on the back of better macroeconomic data and a dovish shift in monetary policy. Other factors that could attract funds to the stock market are capital markets reforms as well as significant progress in steps to liberalize the economic provisions of the Constitution,\u201d he said.\nThe Bangko Sentral ng Pilipinas (BSP) is widely expected to begin cutting benchmark interest rates this year to keep a healthy differential with the US Federal Reserve.\nHowever, BSP Governor Eli M. Remolona, Jr. last month said the central bank is unlikely to cut borrowing costs in the next few months and is leaning towards keeping rates higher for longer.\nThe central bank raised benchmark interest rates by a total of 450 basis points from May 2022 to October 2023, bringing the policy rate to a 16-year high of 6.5%.\nThe index could retest the 6,700 to 7,000 levels this year, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort added in a Viber message.\n\u201cThe PSEi could rebound in 2024 and could be positively affected by and play catch up with the bullishness in the United States and other major global stock markets,\u201d Mr.\u00a0Ricafort said.\u00a0\n\u201cFor early 2024, there is a good chance for start of the year gains amid the possible tail end of the Santa Claus rally on Wall Street,\u201d he said.\u00a0\nHowever, investors could remain cautious during the first trading week of the year amid a lack of catalysts, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.\nDecember inflation data to be released on Friday could drive trading in the coming days, he said.\n\u201cAn inflation print lower than the preceding month\u2019s 4.1%, especially one which is near the lower end of the BSP\u2019s 3.6-4.4% forecast range, may spur positive sentiment in the market. However, one which is faster than the preceding month may weigh on the local bourse,\u201d Mr. Tantiangco added.\nHe put the PSEi\u2019s support at 6,400 and resistance at 6,700 for this week. \u2014 R.M.D. Ochave", "date_published": "2024-01-01T21:00:15+08:00", "date_modified": "2024-01-01T17:41:19+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-720p-2.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=565914", "url": "https://www.bworldonline.com/stock-market/2023/12/28/565914/psei-climbs-to-6500-level-as-rate-cut-bets-grow/", "title": "PSEi climbs to 6,500 level as rate cut bets grow", "content_html": "\n
THE MAIN INDEX climbed to the 6,500 level on Thursday despite low trading volume as market sentiment improved amid expectations of lower benchmark interest rates next year.
\nThe Philippine Stock Exchange index (PSEi) climbed by 56.31 points or 0.87% to end at 6,519.11 on Thursday, while the broader all shares index went up by 24.70 points or 0.72% to close at 3,440.59.
\n\u201cThe index returned above the 6,500 level in thin trading as investor sentiment remained positive about the local market\u2019s prospects for 2024,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.
\n\u201cWe saw the same optimism across most Asian markets on the back of growing bets on the dovish direction of interest rates next year,\u201d Mr. Colet added.
\nThe PSEi rallied as investors see a \u201cbetter year\u201d in 2024, Mercantile Securities Corp. Head Trader Jeff Radley C. See likewise said in a Viber message.
\n\u201cInterest rates are about to go down due to better economic data coming from the US,\u201d he said.
\nValue turnover went down to P2.8 billion on Thursday with 385.53 million issues changing hands from the P3.95 billion with 1.44 billion shares on Wednesday.
\nAsian shares scaled five-month peaks on Thursday as market wagers on ever-more aggressive rate cuts extended a huge rally in US stocks and bonds, while also leaving plenty of scope for disappointment in the new year, Reuters reported.
\nMSCI\u2019s broadest index of Asia-Pacific shares outside Japan added another 1.4% to be up 11% in two months and at its highest since August. Futures now imply an 88% chance of a rate cut as early as March, a huge swing from a month ago when the probability was just 21%.
\nThe market has about 157 basis points of easing priced in for 2024, and sees rates reaching 3-3.25% over 2025.
\n\u201cSPNEC (SP New Energy Corp.) is the only stock that is still making noise aside from index names. Recent corporate news of MVP Group taking control of SPNEC made it shoot up, ending today\u2019s session at P1.35,\u201d Mr. See added.
\nManuel V. Pangilinan, chairman and chief executive officer of Manila Electric Co., has taken over SPNEC after the completion of a P15.9-billion investment.
\n\u201cPhilippine equities recorded modest gains as investors braced themselves to end the year 2023. Traders will monitor economic data on jobless claims and pending home sales,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
\nAll sectoral indices rose on Thursday. Industrials went up by 100.20 points or 1.12% to 9,008.21; services increased by 15.38 points or 0.97% to 1,593.34; holding firms jumped by 59.75 points or 0.95% to 6,321.60; mining and oil climbed by 74.63 points or 0.76% to 9,801.69; financials inched up by 9.75 points or 0.56% to 1,736.83; and property added 10.70 points or 0.37% to end at 2,879.58.
\nAdvancers outnumbered decliners, 124 to 61, while 36 names closed unchanged.
\nNet foreign buying went down to P12.79 million on Thursday from P114.06 million on Wednesday. \u2014 S.J. Talavera with Reuters
\n", "content_text": "THE MAIN INDEX climbed to the 6,500 level on Thursday despite low trading volume as market sentiment improved amid expectations of lower benchmark interest rates next year.\nThe Philippine Stock Exchange index (PSEi) climbed by 56.31 points or 0.87% to end at 6,519.11 on Thursday, while the broader all shares index went up by 24.70 points or 0.72% to close at 3,440.59.\n\u201cThe index returned above the 6,500 level in thin trading as investor sentiment remained positive about the local market\u2019s prospects for 2024,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.\n\u201cWe saw the same optimism across most Asian markets on the back of growing bets on the dovish direction of interest rates next year,\u201d Mr. Colet added.\nThe PSEi rallied as investors see a \u201cbetter year\u201d in 2024, Mercantile Securities Corp. Head Trader Jeff Radley C. See likewise said in a Viber message.\n\u201cInterest rates are about to go down due to better economic data coming from the US,\u201d he said.\nValue turnover went down to P2.8 billion on Thursday with 385.53 million issues changing hands from the P3.95 billion with 1.44 billion shares on Wednesday.\nAsian shares scaled five-month peaks on Thursday as market wagers on ever-more aggressive rate cuts extended a huge rally in US stocks and bonds, while also leaving plenty of scope for disappointment in the new year, Reuters reported.\nMSCI\u2019s broadest index of Asia-Pacific shares outside Japan added another 1.4% to be up 11% in two months and at its highest since August. Futures now imply an 88% chance of a rate cut as early as March, a huge swing from a month ago when the probability was just 21%.\nThe market has about 157 basis points of easing priced in for 2024, and sees rates reaching 3-3.25% over 2025.\n\u201cSPNEC (SP New Energy Corp.) is the only stock that is still making noise aside from index names. Recent corporate news of MVP Group taking control of SPNEC made it shoot up, ending today\u2019s session at P1.35,\u201d Mr. See added. \nManuel V. Pangilinan, chairman and chief executive officer of Manila Electric Co., has taken over SPNEC after the completion of a P15.9-billion investment.\n\u201cPhilippine equities recorded modest gains as investors braced themselves to end the year 2023. Traders will monitor economic data on jobless claims and pending home sales,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.\nAll sectoral indices rose on Thursday. Industrials went up by 100.20 points or 1.12% to 9,008.21; services increased by 15.38 points or 0.97% to 1,593.34; holding firms jumped by 59.75 points or 0.95% to 6,321.60; mining and oil climbed by 74.63 points or 0.76% to 9,801.69; financials inched up by 9.75 points or 0.56% to 1,736.83; and property added 10.70 points or 0.37% to end at 2,879.58. \nAdvancers outnumbered decliners, 124 to 61, while 36 names closed unchanged.\nNet foreign buying went down to P12.79 million on Thursday from P114.06 million on Wednesday. \u2014 S.J. Talavera with Reuters", "date_published": "2023-12-28T21:00:20+08:00", "date_modified": "2023-12-28T18:46:46+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/09/PSE.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=565657", "url": "https://www.bworldonline.com/stock-market/2023/12/27/565657/stocks-drop-due-to-profit-taking-lack-of-leads/", "title": "Stocks drop due to profit taking, lack of leads", "content_html": "\n
PHILIPPINE shares went\u00a0 down on Wednesday as investors took profits and stayed on the sidelines while looking for fresh leads after the Christmas break.
\nThe benchmark Philippine Stock Exchange index (PSEi) declined by 38.20 points or 0.58% to end at 6,462.80 on Wednesday, while the broader all shares index decreased by 11.41 points or 0.33% to close at 3,415.89.
\n\u201cThe local bourse dropped\u2026 as investors took some gains while awaiting fresh catalysts towards the yearend. Many were observed on the sidelines, with a net market value turnover of P3.42 billion, lower than this month\u2019s average of P4.18 billion thus far,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.
\n\u201cThe PSEi headed lower today due to the pickup in profit-taking activities amidst the lack of catalysts,\u201d China Bank Securities Corp. Research Associate Lance U. Soledad likewise said in an e-mail on Wednesday.
\nValue turnover went up to P3.95 billion on Wednesday with 1.44 billion issues changing hands from the P3.21 billion with 536.25 million shares seen on Friday.
\nSeedbox Securities, Inc. equity trader Jayniel Carl S. Manuel said that the index declined due to the \u201clingering effects of the Christmas hangover,\u201d causing thin trading volume as investors continued to \u201cease back into the market after the holiday festivities.\u201d
\nThe market was closed on Dec. 25-26 due to non-working days for Christmas.
\n\u201cMoreover, some market participants appear to be cashing out gains from the earlier Christmas rally. As the market enters the final two days of trading for the year, expectations are optimistic for a potential upswing. The anticipation is fueled by a combination of year-end window dressing and opportunistic bargain hunting, suggesting a potential reversal in the trend as the year concludes,\u201d Mr. Manuel said in an e-mail.
\nMost sectoral indices went down on Wednesday. Holding firms declined by 105.74 points or 1.66% to 6,261.85; services dropped by 7.52 points or 0.47% to 1,577.96; financials decreased by 6.13 points or 0.35% to 1,727.08; and industrials fell by 8.56 points or 0.09% to 8,908.01.
\nMeanwhile, mining and oil climbed by 184.32 points or 1.93% to 9,727.06 and property increased by 18.73 points or 0.65% to end at 2,868.88.
\nDecliners narrowly outnumbered advancers, 88 versus 82, while 52 names closed unchanged.
\n\u201cAmong the index members, Semirara Mining and Power Corp. was at the top, gaining by 4.06%, while Wilcon Depot, Inc. declined the most by 4.19%,\u201d Philstocks Financial\u2019s Ms. Alviar said.
\nNet foreign buying stood at P114.06 million on Wednesday versus the P87.05 million in net selling seen on Friday.
\n\u201cIn case the market continues to move lower, the 6,380-6,420 is seen as the immediate support level,\u201d China Bank Securities\u2019 Mr.\u00a0Soledad said. \u2014 S.J. Talavera
\n", "content_text": "PHILIPPINE shares went\u00a0 down on Wednesday as investors took profits and stayed on the sidelines while looking for fresh leads after the Christmas break.\nThe benchmark Philippine Stock Exchange index (PSEi) declined by 38.20 points or 0.58% to end at 6,462.80 on Wednesday, while the broader all shares index decreased by 11.41 points or 0.33% to close at 3,415.89.\n\u201cThe local bourse dropped\u2026 as investors took some gains while awaiting fresh catalysts towards the yearend. Many were observed on the sidelines, with a net market value turnover of P3.42 billion, lower than this month\u2019s average of P4.18 billion thus far,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\n\u201cThe PSEi headed lower today due to the pickup in profit-taking activities amidst the lack of catalysts,\u201d China Bank Securities Corp. Research Associate Lance U. Soledad likewise said in an e-mail on Wednesday.\nValue turnover went up to P3.95 billion on Wednesday with 1.44 billion issues changing hands from the P3.21 billion with 536.25 million shares seen on Friday.\nSeedbox Securities, Inc. equity trader Jayniel Carl S. Manuel said that the index declined due to the \u201clingering effects of the Christmas hangover,\u201d causing thin trading volume as investors continued to \u201cease back into the market after the holiday festivities.\u201d\nThe market was closed on Dec. 25-26 due to non-working days for Christmas.\n\u201cMoreover, some market participants appear to be cashing out gains from the earlier Christmas rally. As the market enters the final two days of trading for the year, expectations are optimistic for a potential upswing. The anticipation is fueled by a combination of year-end window dressing and opportunistic bargain hunting, suggesting a potential reversal in the trend as the year concludes,\u201d Mr. Manuel said in an e-mail.\nMost sectoral indices went down on Wednesday. Holding firms declined by 105.74 points or 1.66% to 6,261.85; services dropped by 7.52 points or 0.47% to 1,577.96; financials decreased by 6.13 points or 0.35% to 1,727.08; and industrials fell by 8.56 points or 0.09% to 8,908.01.\nMeanwhile, mining and oil climbed by 184.32 points or 1.93% to 9,727.06 and property increased by 18.73 points or 0.65% to end at 2,868.88.\nDecliners narrowly outnumbered advancers, 88 versus 82, while 52 names closed unchanged.\n\u201cAmong the index members, Semirara Mining and Power Corp. was at the top, gaining by 4.06%, while Wilcon Depot, Inc. declined the most by 4.19%,\u201d Philstocks Financial\u2019s Ms. Alviar said.\nNet foreign buying stood at P114.06 million on Wednesday versus the P87.05 million in net selling seen on Friday.\n\u201cIn case the market continues to move lower, the 6,380-6,420 is seen as the immediate support level,\u201d China Bank Securities\u2019 Mr.\u00a0Soledad said. \u2014 S.J. Talavera", "date_published": "2023-12-27T21:00:46+08:00", "date_modified": "2023-12-27T18:24:08+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/10/PSE-building.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=565402", "url": "https://www.bworldonline.com/stock-market/2023/12/26/565402/phl-shares-may-rise-in-last-trading-days-of-2023/", "title": "PHL shares may rise in last trading days of 2023", "content_html": "\n
PHILIPPINE SHARES may rise this week as investors rebalance their portfolios before the year\u2019s close and look towards 2024, focusing on the outlook for interest rates and the economy.
\nThe Philippine Stock Exchange index (PSEi) climbed by 31.77 points or 0.49% to close at 6,501 on Friday, while the broader all shares index rose by 23.04 points or 0.67% to end at 3,427.30.
\nWeek on week, the PSEi climbed by 22.56 points or 0.35% from its 6,478.44 close on Dec. 15.
\nPhilippine financial markets were closed on Sept. 25-26 due to non-working days for Christmas.
\n\u201cThe final three trading days of the year will see a mix of window dressing and bargain hunting, with the index poised to end 2023 on a positive note,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.
\n\u201cThe local rally in stocks is still driven mainly by growing expectations of interest rate cuts next year even after the Bangko Sentral ng Pilipinas (BSP) has signaled that policy may need to remain tight for some time,\u201d Mr. Colet added.
\nThe local bourse may move sideways this week as investors cautiously assess the economic and monetary policy outlook for next year, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.
\n\u201cThe upside risks to inflation due to supply side issues and the tighter for longer monetary policy of the Bangko Sentral ng Pilipinas, all of which may slow down our economic growth, may weigh on sentiment,\u201d Mr. Tantiangco said.
\n\u201cIn the last week of the year, investors are also expected to still watch out for further catalysts that could give us a clearer picture of how our economy would be in 2024,\u201d he added.
\nThe BSP is unlikely to start policy easing in the next few months and will only consider cutting rates if inflation settles at the midpoint of the 2-4% target, its chief said last week.
\n\u201cWe\u2019re unlikely to cut rates in the next few months. We\u2019re in a higher for longer (scenario). When I say hawkish, that basically means high for a while,\u201d BSP Governor Eli M. Remolona, Jr. said.
\nThe Monetary Board this month kept its benchmark rate at a 16-year high of 6.5% for a second straight meeting. Interest rates on the overnight deposit and lending facilities were also left unchanged at 6% and 7%, respectively.
\nFrom May 2022 to October this year, the BSP raised borrowing costs by a cumulative 450\u2009basis points to tame inflation.
\nMeanwhile, the Development Budget Coordination Committee set next year\u2019s gross domestic product growth goal at 6.5-7.5%.
\nThere may be \u201cmore buoyant movement\u201d in the market in the coming sessions as December and January have historically been \u201cthe most successful trading months for the benchmark index,\u201d online brokerage 2TradeAsia.com said in a report.
\nFor this week, 2TradeAsia.com put the PSEi\u2019s support at 6,350 and resistance at 6,600, while Mr.\u00a0Tantiangco sees the benchmark index trading between 6,400 and 6,700. \u2014 S.J. Talavera
\n", "content_text": "PHILIPPINE SHARES may rise this week as investors rebalance their portfolios before the year\u2019s close and look towards 2024, focusing on the outlook for interest rates and the economy.\nThe Philippine Stock Exchange index (PSEi) climbed by 31.77 points or 0.49% to close at 6,501 on Friday, while the broader all shares index rose by 23.04 points or 0.67% to end at 3,427.30.\nWeek on week, the PSEi climbed by 22.56 points or 0.35% from its 6,478.44 close on Dec. 15.\nPhilippine financial markets were closed on Sept. 25-26 due to non-working days for Christmas.\n\u201cThe final three trading days of the year will see a mix of window dressing and bargain hunting, with the index poised to end 2023 on a positive note,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.\n\u201cThe local rally in stocks is still driven mainly by growing expectations of interest rate cuts next year even after the Bangko Sentral ng Pilipinas (BSP) has signaled that policy may need to remain tight for some time,\u201d Mr. Colet added.\nThe local bourse may move sideways this week as investors cautiously assess the economic and monetary policy outlook for next year, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.\n\u201cThe upside risks to inflation due to supply side issues and the tighter for longer monetary policy of the Bangko Sentral ng Pilipinas, all of which may slow down our economic growth, may weigh on sentiment,\u201d Mr. Tantiangco said.\n\u201cIn the last week of the year, investors are also expected to still watch out for further catalysts that could give us a clearer picture of how our economy would be in 2024,\u201d he added.\nThe BSP is unlikely to start policy easing in the next few months and will only consider cutting rates if inflation settles at the midpoint of the 2-4% target, its chief said last week.\n\u201cWe\u2019re unlikely to cut rates in the next few months. We\u2019re in a higher for longer (scenario). When I say hawkish, that basically means high for a while,\u201d BSP Governor Eli M. Remolona, Jr. said.\nThe Monetary Board this month kept its benchmark rate at a 16-year high of 6.5% for a second straight meeting. Interest rates on the overnight deposit and lending facilities were also left unchanged at 6% and 7%, respectively.\nFrom May 2022 to October this year, the BSP raised borrowing costs by a cumulative 450\u2009basis points to tame inflation.\nMeanwhile, the Development Budget Coordination Committee set next year\u2019s gross domestic product growth goal at 6.5-7.5%.\nThere may be \u201cmore buoyant movement\u201d in the market in the coming sessions as December and January have historically been \u201cthe most successful trading months for the benchmark index,\u201d online brokerage 2TradeAsia.com said in a report.\nFor this week, 2TradeAsia.com put the PSEi\u2019s support at 6,350 and resistance at 6,600, while Mr.\u00a0Tantiangco sees the benchmark index trading between 6,400 and 6,700. \u2014 S.J. Talavera", "date_published": "2023-12-26T21:00:21+08:00", "date_modified": "2023-12-26T17:33:53+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-720p-9.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=565190", "url": "https://www.bworldonline.com/stock-market/2023/12/21/565190/shares-dip-on-wall-streets-slide-hawkish-views/", "title": "Shares dip on Wall Street\u2019s slide, hawkish views", "content_html": "PHILIPPINE stocks closed lower on Thursday to track Wall Street\u2019s performance overnight and after the local central bank chief said rates might stay \u201chigher for longer.\u201d
\nThe benchmark Philippine Stock Exchange index (PSEi) declined by 51.52 points or 0.79% to end at 6,469.23 on Thursday, while the broader all shares index shed 30.15 points or 0.88% to close at 3,404.26.
\nPhilstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said that stock market investors took cues from Wall Street\u2019s overnight performance wherein profit taking took place.
\nMr. Plopenio added that the hawkish statements from Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. also weighed on the sentiment.
\nMr. Remolona earlier told reporters that the BSP was unlikely to cut rates in the next few months and would consider a reduction only if inflation settles at the midpoint of the 2-4% target.
\nThe BSP last week kept its policy rate steady at a 16-year high of 6.5% for a second straight meeting. The central bank raised borrowing costs by a cumulative 450 basis points from May 2022 to October 2023 to tame inflation.
\nChina Bank Securities Corp. Research Director Rastine Mackie D. Mercado said the index declined as \u201ccontinued profit taking underpinned selling pressure.\u201d
\n\u201cThis was likely exacerbated by the overnight sell-off in offshore markets given extremely overbought levels. Fortunately, a surge of market-on-close buying led to pared losses for the day. This may indicate underlying investor interest to participate in the market given the pullback,\u201d Mr. Mercado said.
\nAlmost all sectoral indices dropped on Thursday, except for financials, which climbed by 12.05 points or 0.69% to 1,738.26.
\nMeanwhile, property went down by 47.44 points or 1.64% to 2,834.78; services lost 21.37 points or 1.33% to 1,578.72; industrials decreased by 75.97 points or 0.85% to 8,769.10; holding firms sank by 52.73 points or 0.82% to 6,341.40; and mining and oil declined by 50.78 points or 0.53% to 9,518.11.
\nValue turnover went up to P8.61 billion on Thursday with 2 billion issues changing hands from the P6.32 billion with 1.15 million shares on Wednesday.
\nDecliners outnumbered advancers, 121 against 71, while 46 names ended unchanged.
\nNet foreign selling stood at P1.81 billion on Thursday from the net foreign buying at P166.8 million on Wednesday. \u2014 Sheldeen Joy Talavera
\n", "content_text": "PHILIPPINE stocks closed lower on Thursday to track Wall Street\u2019s performance overnight and after the local central bank chief said rates might stay \u201chigher for longer.\u201d\nThe benchmark Philippine Stock Exchange index (PSEi) declined by 51.52 points or 0.79% to end at 6,469.23 on Thursday, while the broader all shares index shed 30.15 points or 0.88% to close at 3,404.26.\nPhilstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said that stock market investors took cues from Wall Street\u2019s overnight performance wherein profit taking took place. \nMr. Plopenio added that the hawkish statements from Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. also weighed on the sentiment.\nMr. Remolona earlier told reporters that the BSP was unlikely to cut rates in the next few months and would consider a reduction only if inflation settles at the midpoint of the 2-4% target.\nThe BSP last week kept its policy rate steady at a 16-year high of 6.5% for a second straight meeting. The central bank raised borrowing costs by a cumulative 450 basis points from May 2022 to October 2023 to tame inflation.\nChina Bank Securities Corp. Research Director Rastine Mackie D. Mercado said the index declined as \u201ccontinued profit taking underpinned selling pressure.\u201d\n\u201cThis was likely exacerbated by the overnight sell-off in offshore markets given extremely overbought levels. Fortunately, a surge of market-on-close buying led to pared losses for the day. This may indicate underlying investor interest to participate in the market given the pullback,\u201d Mr. Mercado said.\nAlmost all sectoral indices dropped on Thursday, except for financials, which climbed by 12.05 points or 0.69% to 1,738.26.\nMeanwhile, property went down by 47.44 points or 1.64% to 2,834.78; services lost 21.37 points or 1.33% to 1,578.72; industrials decreased by 75.97 points or 0.85% to 8,769.10; holding firms sank by 52.73 points or 0.82% to 6,341.40; and mining and oil declined by 50.78 points or 0.53% to 9,518.11.\nValue turnover went up to P8.61 billion on Thursday with 2 billion issues changing hands from the P6.32 billion with 1.15 million shares on Wednesday.\nDecliners outnumbered advancers, 121 against 71, while 46 names ended unchanged.\nNet foreign selling stood at P1.81 billion on Thursday from the net foreign buying at P166.8 million on Wednesday. \u2014 Sheldeen Joy Talavera", "date_published": "2023-12-21T21:00:35+08:00", "date_modified": "2023-12-21T19:00:12+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/10/WALLSTREETS_RTRMADP_3_GLOBAL-MARKETS.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=564915", "url": "https://www.bworldonline.com/stock-market/2023/12/20/564915/psei-inches-lower-as-investors-wait-for-catalysts/", "title": "PSEi inches lower as investors wait for catalysts", "content_html": "\n
PHILIPPINE shares went down slightly on Wednesday as investors looked for new catalysts that would nudge the main index above the 6,500 level.
\nThe benchmark Philippine Stock Exchange index (PSEi) shed 0.52 points or a minute percentage to end at 6,520.75 on Wednesday, while the broader all shares index climbed by 1.70 points or 0.05% to close at 3,343.41.
\n\u201cThe local bourse saw a marginal decline\u2026 as more investors booked gains following the market\u2019s rise in the past few days. Investors were also finding new catalysts to drive the market upwards,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.
\nRegina Capital Development Corp. Head of Sales Luis A. Limli-ngan said in a Viber message that the market declined as investors waited for more cues on interest rates from the US Federal Reserve.
\n\u201cPhilippine shares took a breather from the recent rally as investors look forward to more cues on the rate cuts from the Fed in the new year,\u201d Mr. Limlingan said.
\nOn its Dec. 13 meeting, the US central bank kept interest rates unchanged within the 5.25%-5.5% range, Reuters reported.
\n\u201cOn the data front, consumer confidence for December and existing home sales for November are due out on Dec. 20,\u201d he added.
\nSectoral indices were split on Wednesday. Financials dropped by 12.02 points or 0.69% to close at 1,726.21; industrials decreased by 38.32 points or 0.43% to 8,845.07; property declined by 4.10 points or 0.14% to 2,882.22.
\nMeanwhile, mining and oil climbed by 74.61 points or 0.78% to 9,568.89; holdings firms increased by 41.21 points or 0.64% to 6,394.13; and services rose by 4.89 points or 0.30%.
\nValue turnover went up to P6.32 billion on Wednesday with 1.15 billion issues changing hands from the P4.37 billion with 748.67 million shares on Tuesday.
\nadvancers outnumbered decliners, 96 against 89, while 42 names ended unchanged.
\nNet foreign buying declined to P166.8 million on Wednesday from P394.99 million on Tuesday. \u2014 Sheldeen Joy Talavera
\n", "content_text": "PHILIPPINE shares went down slightly on Wednesday as investors looked for new catalysts that would nudge the main index above the 6,500 level. \nThe benchmark Philippine Stock Exchange index (PSEi) shed 0.52 points or a minute percentage to end at 6,520.75 on Wednesday, while the broader all shares index climbed by 1.70 points or 0.05% to close at 3,343.41.\n\u201cThe local bourse saw a marginal decline\u2026 as more investors booked gains following the market\u2019s rise in the past few days. Investors were also finding new catalysts to drive the market upwards,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\nRegina Capital Development Corp. Head of Sales Luis A. Limli-ngan said in a Viber message that the market declined as investors waited for more cues on interest rates from the US Federal Reserve.\n\u201cPhilippine shares took a breather from the recent rally as investors look forward to more cues on the rate cuts from the Fed in the new year,\u201d Mr. Limlingan said.\nOn its Dec. 13 meeting, the US central bank kept interest rates unchanged within the 5.25%-5.5% range, Reuters reported.\n\u201cOn the data front, consumer confidence for December and existing home sales for November are due out on Dec. 20,\u201d he added.\nSectoral indices were split on Wednesday. Financials dropped by 12.02 points or 0.69% to close at 1,726.21; industrials decreased by 38.32 points or 0.43% to 8,845.07; property declined by 4.10 points or 0.14% to 2,882.22.\nMeanwhile, mining and oil climbed by 74.61 points or 0.78% to 9,568.89; holdings firms increased by 41.21 points or 0.64% to 6,394.13; and services rose by 4.89 points or 0.30%.\nValue turnover went up to P6.32 billion on Wednesday with 1.15 billion issues changing hands from the P4.37 billion with 748.67 million shares on Tuesday.\nadvancers outnumbered decliners, 96 against 89, while 42 names ended unchanged.\nNet foreign buying declined to P166.8 million on Wednesday from P394.99 million on Tuesday. \u2014 Sheldeen Joy Talavera", "date_published": "2023-12-20T21:00:57+08:00", "date_modified": "2023-12-20T19:16:20+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/10/PSE-bell.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=564619", "url": "https://www.bworldonline.com/stock-market/2023/12/19/564619/local-shares-rise-on-positive-economic-outlook/", "title": "Local shares rise on positive economic outlook", "content_html": "\n
PHILIPPINE shares rose on Tuesday amid an improved economic outlook and as investors anticipate a year-end window dressing.
\nThe benchmark Philippine Stock Exchange index (PSEi) went up by 45.77 points or 0.7% to end at 6,521.27 on Tuesday, while the broader all shares index climbed by 16.57 points or 0.48% to close at 3,432.71.
\n\u201cInvestors digested positive economic narratives today including the International Monetary Fund\u2019s sound assessment of the Philippines fiscal consolidation, and the Philippine Economic Zone Authority\u2019s positive outlook on its investment approvals for full year 2023,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.
\nThe International Monetary Fund said in a Dec. 15 statement that the Bangko Sentral ng Pilipinas (BSP) should keep interest rates higher for longer until inflation fully returns to target.
\nThe Monetary Board last week kept rates steady at a 16-year high of 6.5% for a second straight meeting, after a 25-basis-point (bp) off-cycle hike on Oct. 26.\u00a0 \u00a0
\nThe BSP raised borrowing costs by a total of 450 bps from May 2022 to October 2023.
\nMercantile Securities Corp. Head Trader Jeff Radley C. See said the market continued its rally as investors are bullish for next year.
\n\u201cLooks like we are experiencing a Christmas rally,\u201d Mr.\u00a0See said in a Viber message, adding that investors are bullish on hopes of a rate cut next year.
\nJayniel Carl S. Manuel, an equities trader at Seedbox Securities, Inc., said in an e-mail that the index\u2019s recent uptick was due to \u201cthe phenomenon of year-end window dressing.\u201d
\n\u201cAdditionally, we have observed an influx of investor cash into the market, further contributing to the upward momentum. As the fiscal year concludes, investors are strategically allocating extra funds, taking advantage of market opportunities and positioning themselves for potential year-end gains,\u201d Mr. Manuel said.
\nMost of the sectoral indices rose on Tuesday. Financials went up by 33.04 or 1.93% to 1,738.24; property gained 25.53 points or 0.89% to 2,886.32; services increased by 12.67 points or 0.8% to 1,595.20; industrials jumped by 5.11 points or 0.05% to 8,883.39.
\nMeanwhile, mining and oil declined by 40.71 points or 0.42% to 9,494.28; and holding firms decreased by 6.97 points or 0.11% to 6,352.92.
\nValue turnover went down to P4.37 billion on Monday with 748.67 million issues changing hands from the P5.4 billion with 602.65 million shares on Monday.
\nDecliners outnumbered advancers, 96 against 88, while 47 names ended unchanged.
\nNet foreign buying declined to P394.99 million on Tuesday from P625.25 million on Monday. \u2014 Sheldeen Joy Talavera
\n", "content_text": "PHILIPPINE shares rose on Tuesday amid an improved economic outlook and as investors anticipate a year-end window dressing.\nThe benchmark Philippine Stock Exchange index (PSEi) went up by 45.77 points or 0.7% to end at 6,521.27 on Tuesday, while the broader all shares index climbed by 16.57 points or 0.48% to close at 3,432.71.\n\u201cInvestors digested positive economic narratives today including the International Monetary Fund\u2019s sound assessment of the Philippines fiscal consolidation, and the Philippine Economic Zone Authority\u2019s positive outlook on its investment approvals for full year 2023,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.\nThe International Monetary Fund said in a Dec. 15 statement that the Bangko Sentral ng Pilipinas (BSP) should keep interest rates higher for longer until inflation fully returns to target.\nThe Monetary Board last week kept rates steady at a 16-year high of 6.5% for a second straight meeting, after a 25-basis-point (bp) off-cycle hike on Oct. 26.\u00a0 \u00a0\nThe BSP raised borrowing costs by a total of 450 bps from May 2022 to October 2023.\nMercantile Securities Corp. Head Trader Jeff Radley C. See said the market continued its rally as investors are bullish for next year.\n\u201cLooks like we are experiencing a Christmas rally,\u201d Mr.\u00a0See said in a Viber message, adding that investors are bullish on hopes of a rate cut next year.\nJayniel Carl S. Manuel, an equities trader at Seedbox Securities, Inc., said in an e-mail that the index\u2019s recent uptick was due to \u201cthe phenomenon of year-end window dressing.\u201d\n\u201cAdditionally, we have observed an influx of investor cash into the market, further contributing to the upward momentum. As the fiscal year concludes, investors are strategically allocating extra funds, taking advantage of market opportunities and positioning themselves for potential year-end gains,\u201d Mr. Manuel said.\nMost of the sectoral indices rose on Tuesday. Financials went up by 33.04 or 1.93% to 1,738.24; property gained 25.53 points or 0.89% to 2,886.32; services increased by 12.67 points or 0.8% to 1,595.20; industrials jumped by 5.11 points or 0.05% to 8,883.39.\nMeanwhile, mining and oil declined by 40.71 points or 0.42% to 9,494.28; and holding firms decreased by 6.97 points or 0.11% to 6,352.92.\nValue turnover went down to P4.37 billion on Monday with 748.67 million issues changing hands from the P5.4 billion with 602.65 million shares on Monday.\nDecliners outnumbered advancers, 96 against 88, while 47 names ended unchanged.\nNet foreign buying declined to P394.99 million on Tuesday from P625.25 million on Monday. \u2014 Sheldeen Joy Talavera", "date_published": "2023-12-19T21:00:40+08:00", "date_modified": "2023-12-19T19:01:25+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/12/PSEPSE-Trading-Floor-090920-5.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=564286", "url": "https://www.bworldonline.com/stock-market/2023/12/18/564286/psei-slips-as-investors-pocket-profits-from-rally/", "title": "PSEi slips as investors pocket profits from rally", "content_html": "\n
THE MAIN INDEX declined on Monday as investors pocketed their gains after the bellwether\u2019s ascent to the 6,400 level late last week.
\nThe benchmark Philippine Stock Exchange index (PSEi) went down by 2.94 points or 0.04% to end at 6,475.50 on Monday, while the broader all shares index climbed by 6.59 points or 0.19% to close at 3,416.14.
\n\u201cThe index closed slightly lower as selling pressure emerged in the 6,500 area. In terms of technicals, the market is nearly overbought after last week\u2019s rally, so some traders have started to take profits,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.
\n\u201cNews flows were also not that favorable as US Federal Reserve officials tempered expectations of interest rate cuts next year,\u201d Mr. Colet added.
\nAB Capital Securities, Inc. Vice-President Jovis L. Vistan said \u201cinitially positive momentum waned as the trading session drew to a close.\u201d
\n\u201cLocal stock prices concluded marginally lower as the index confronted a technical resistance at around the 6,500 level. The market commenced with strength, buoyed by increasing optimism that global interest rates had topped out,\u201d Mr. Vistan said in a Viber message.
\nJust days after a Federal Reserve meeting that penciled in an ample course of interest rate cuts next year, which in turn unleashed a broad rally in financial markets, one of the US central bank\u2019s top policy makers pushed back on the ebullience on Friday, Reuters reported.
\n\u201cWe aren\u2019t really talking about rate cuts right now,\u201d New York Fed President John Williams said in an interview with CNBC. When it comes to the question of lowering rates, \u201cI just think it\u2019s just premature to be even thinking about that\u201d as the central bank continues to mull whether monetary policy is in the right place to help guide inflation back to its 2% target, he said.
\nThe PSEi finished the session almost flat as stocks consolidated, \u201cwith investors making moves ahead before the end of the year,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.
\nSectoral indices were split on Monday. Industrials fell by 85.14 points or 0.95% to 8,878.28; financials dropped by 15.38 points or 0.89% to 1,705.19; and holding firms went down by 35.27 points or 0.55% to 6,359.89.
\nMeanwhile, property rose by 49.41 points or 1.75% to 2,860.79; services increased by 18.67 points or 1.19% to 1,582.53; and mining and oil went up by 13.13 points or 0.13% to 9,534.99.
\nValue turnover went down to P5.4 billion on Monday with 602.65 million issues changing hands from the P10.2 billion with 897.2 million shares on Friday.
\nAdvancers outnumbered decliners, 100 against 77, while 46 names ended unchanged.
\nNet foreign buying rose to P625.25 million on Monday from P448.43 million on Friday.
\nAB Capital\u2019s Mr. Vistan put the PSEi\u2019s support at 6,300 and resistance at 6,530 for the rest of the week. \u2014 S.J. Talavera with Reuters
\n", "content_text": "THE MAIN INDEX declined on Monday as investors pocketed their gains after the bellwether\u2019s ascent to the 6,400 level late last week.\nThe benchmark Philippine Stock Exchange index (PSEi) went down by 2.94 points or 0.04% to end at 6,475.50 on Monday, while the broader all shares index climbed by 6.59 points or 0.19% to close at 3,416.14.\n\u201cThe index closed slightly lower as selling pressure emerged in the 6,500 area. In terms of technicals, the market is nearly overbought after last week\u2019s rally, so some traders have started to take profits,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.\n\u201cNews flows were also not that favorable as US Federal Reserve officials tempered expectations of interest rate cuts next year,\u201d Mr. Colet added.\nAB Capital Securities, Inc. Vice-President Jovis L. Vistan said \u201cinitially positive momentum waned as the trading session drew to a close.\u201d\n\u201cLocal stock prices concluded marginally lower as the index confronted a technical resistance at around the 6,500 level. The market commenced with strength, buoyed by increasing optimism that global interest rates had topped out,\u201d Mr. Vistan said in a Viber message.\nJust days after a Federal Reserve meeting that penciled in an ample course of interest rate cuts next year, which in turn unleashed a broad rally in financial markets, one of the US central bank\u2019s top policy makers pushed back on the ebullience on Friday, Reuters reported.\n\u201cWe aren\u2019t really talking about rate cuts right now,\u201d New York Fed President John Williams said in an interview with CNBC. When it comes to the question of lowering rates, \u201cI just think it\u2019s just premature to be even thinking about that\u201d as the central bank continues to mull whether monetary policy is in the right place to help guide inflation back to its 2% target, he said.\nThe PSEi finished the session almost flat as stocks consolidated, \u201cwith investors making moves ahead before the end of the year,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.\nSectoral indices were split on Monday. Industrials fell by 85.14 points or 0.95% to 8,878.28; financials dropped by 15.38 points or 0.89% to 1,705.19; and holding firms went down by 35.27 points or 0.55% to 6,359.89.\nMeanwhile, property rose by 49.41 points or 1.75% to 2,860.79; services increased by 18.67 points or 1.19% to 1,582.53; and mining and oil went up by 13.13 points or 0.13% to 9,534.99. \nValue turnover went down to P5.4 billion on Monday with 602.65 million issues changing hands from the P10.2 billion with 897.2 million shares on Friday.\nAdvancers outnumbered decliners, 100 against 77, while 46 names ended unchanged.\nNet foreign buying rose to P625.25 million on Monday from P448.43 million on Friday.\nAB Capital\u2019s Mr. Vistan put the PSEi\u2019s support at 6,300 and resistance at 6,530 for the rest of the week. \u2014 S.J. Talavera with Reuters", "date_published": "2023-12-18T21:00:26+08:00", "date_modified": "2023-12-18T18:58:59+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-720p-7.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=564010", "url": "https://www.bworldonline.com/stock-market/2023/12/17/564010/shares-seen-to-move-sideways-amid-profit-taking/", "title": "Shares seen to move sideways amid profit taking", "content_html": "\n
PHILIPPINE shares are expected to move sideways for the trading week as analysts are projecting investors to book profits after the market\u2019s strong finish last week.\u00a0
\nOn Dec. 15, the Philippine Stock Exchange Index (PSEi) improved by 67.96 points or 1.06% to 6,478.44 while the broader all shares index jumped by 14.59 points or 0.43% to 3,409.55.
\nCompared with the earlier week, the main index climbed by 243.67 points from its 6,234.77 close on Dec. 7.\u00a0
\nPhilstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message that the local bourse was carried by strong trading activity.
\n\u201cThe local market had a good run last week, particularly the last two trading days, which were backed by strong trading activity. The US Federal Reserve\u2019s signal of three possible 25-basis-point rate cuts next year proved to be a strong catalyst that can spur market optimism,\u201d Mr. Tantiangco said.\u00a0
\nHowever, Mr. Tantiangco said the local bourse could move sideways during the upcoming trading week, warning of possible profit taking.\u00a0
\n\u201cNext week, the policy easing prospects of the Fed may still provide support to the local bourse. However, we advise caution as the market\u2019s steep rally last week opens the possibility of profit-taking,\u201d Mr. Tantiangco said.
\nMr. Tantiangco also said that the latest policy move of the Bangko Sentral ng Pilipinas (BSP) could influence the market\u2019s movement next week.
\nOn Dec. 14, the BSP opted to keep its key rate unchanged at 6.5% for a second straight meeting but signaled a \u201ctighter-for-longer\u201d policy until inflation expectations have become more firmly anchored.\u00a0 \u00a0 \u00a0
\n\u201cInvestors may also digest the results of the BSP\u2019s latest consumer and business confidence surveys which have reflected less upbeat results with respect to sentiment on the economy\u2019s future,\u201d Mr. Tantiangco said, adding that the central bank\u2019s \u201cstill tight policy outlook may weigh on sentiment.\u201d
\nOnline brokerage 2TradeAsia.com said in a market report that the local market was buoyed by the \u201cdovish comments\u201d of central banks for 2024.\u00a0
\n\u201cBulls went on a buying spree, boosted by central banks\u2019 dovish comments for 2024. The PSEi breached the 6,400 key resistance level. The BSP maintained rates as expected, and similarly positive outlook for next year should only support our overweight case for local equities,\u201d 2TradeAsia said.\u00a0
\nLast week, the US Fed kept its benchmark overnight borrowing rate at the 5.25% to 5.5% range amid easing inflation. It also hinted that there would be at least three rate cuts next year.
\nIn its report, 2TradeAsia projected the immediate market support to range from 6,200 to 6,300, and the market resistance at the 6,600 level.\u00a0
\n\u201cMarkets hyper-fixated on interest rate cycle shifts tend to gyrate heavily in tandem with macro headlines. Take advantage of rallies to make quick profit off short-term trades, but do not lose sight of 2024, which is shaping up to be a year with more meaningful and impactful recovery,\u201d it added. \u2014 Revin Mikhael D. Ochave
\n", "content_text": "PHILIPPINE shares are expected to move sideways for the trading week as analysts are projecting investors to book profits after the market\u2019s strong finish last week.\u00a0\nOn Dec. 15, the Philippine Stock Exchange Index (PSEi) improved by 67.96 points or 1.06% to 6,478.44 while the broader all shares index jumped by 14.59 points or 0.43% to 3,409.55.\nCompared with the earlier week, the main index climbed by 243.67 points from its 6,234.77 close on Dec. 7.\u00a0\nPhilstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message that the local bourse was carried by strong trading activity.\n\u201cThe local market had a good run last week, particularly the last two trading days, which were backed by strong trading activity. The US Federal Reserve\u2019s signal of three possible 25-basis-point rate cuts next year proved to be a strong catalyst that can spur market optimism,\u201d Mr. Tantiangco said.\u00a0\nHowever, Mr. Tantiangco said the local bourse could move sideways during the upcoming trading week, warning of possible profit taking.\u00a0\n\u201cNext week, the policy easing prospects of the Fed may still provide support to the local bourse. However, we advise caution as the market\u2019s steep rally last week opens the possibility of profit-taking,\u201d Mr. Tantiangco said. \nMr. Tantiangco also said that the latest policy move of the Bangko Sentral ng Pilipinas (BSP) could influence the market\u2019s movement next week.\nOn Dec. 14, the BSP opted to keep its key rate unchanged at 6.5% for a second straight meeting but signaled a \u201ctighter-for-longer\u201d policy until inflation expectations have become more firmly anchored.\u00a0 \u00a0 \u00a0\n\u201cInvestors may also digest the results of the BSP\u2019s latest consumer and business confidence surveys which have reflected less upbeat results with respect to sentiment on the economy\u2019s future,\u201d Mr. Tantiangco said, adding that the central bank\u2019s \u201cstill tight policy outlook may weigh on sentiment.\u201d \nOnline brokerage 2TradeAsia.com said in a market report that the local market was buoyed by the \u201cdovish comments\u201d of central banks for 2024.\u00a0\n\u201cBulls went on a buying spree, boosted by central banks\u2019 dovish comments for 2024. The PSEi breached the 6,400 key resistance level. The BSP maintained rates as expected, and similarly positive outlook for next year should only support our overweight case for local equities,\u201d 2TradeAsia said.\u00a0\nLast week, the US Fed kept its benchmark overnight borrowing rate at the 5.25% to 5.5% range amid easing inflation. It also hinted that there would be at least three rate cuts next year.\nIn its report, 2TradeAsia projected the immediate market support to range from 6,200 to 6,300, and the market resistance at the 6,600 level.\u00a0\n\u201cMarkets hyper-fixated on interest rate cycle shifts tend to gyrate heavily in tandem with macro headlines. Take advantage of rallies to make quick profit off short-term trades, but do not lose sight of 2024, which is shaping up to be a year with more meaningful and impactful recovery,\u201d it added. \u2014 Revin Mikhael D. Ochave", "date_published": "2023-12-17T21:00:17+08:00", "date_modified": "2023-12-17T17:33:50+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-720p-6.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=563753", "url": "https://www.bworldonline.com/stock-market/2023/12/14/563753/phl-stocks-rebound-as-fed-hints-at-policy-easing/", "title": "PHL stocks rebound as Fed hints at policy easing", "content_html": "PHILIPPINE SHARES rebounded on Thursday on improved investor sentiment as the US Federal Reserve kept rates steady at its final meeting this year, with its chief saying they are done hiking borrowing costs.
\nThe Philippine Stock Exchange index rose by 154.74 points or 2.47% to end at 6,410.48 on Thursday, while the broader all shares index climbed by 55.82 points or 1.67% to close at 3,394.96.\u00a0
\n\u201cThis Thursday, the local market rose by 154.74 points to 6,410.48 as investors cheered the Federal Reserve\u2019s dovish outlook after it held policy rates unchanged in its recent meeting. The Federal Reserve stated that they anticipate three possible rate cuts for 2024, to be done in 25-basis-point (bp) increments,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.
\n\u201cThis gave hope that the Fed may ease their policy soon after more than a year-long combat against inflation. As a result, the bourse was in the green territory for the whole session and even breached the 6,400 resistance level,\u201d he added.\u00a0
\nThe Federal Reserve left interest rates unchanged on Wednesday and US central bank chief Jerome H. Powell said the historic tightening of monetary policy is likely over as inflation falls faster than expected and with a discussion of cuts in borrowing costs coming \u201cinto view,\u201d Reuters reported.
\n\u201cPeople are not writing down rate hikes\u201d in their latest economic projections, Mr. Powell said in a press conference following the end of the central bank\u2019s final policy meeting of the year.
\n\u201cThat\u2019s us thinking we\u2019ve done enough,\u201d he said, adding that rate increases were \u201cnot the base case anymore.\u201d
\n\u201cLocally, investors bought into the assumption that the Bangko Sentral ng Pilipinas (BSP) would follow in a similar fashion, maintaining its own policy rate, but reducing this next year,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
\nThe BSP on Thursday kept its policy rate steady at a 16-year high of 6.5% for a second straight meeting, as expected by 15 of 17 analysts in a BusinessWorld poll conducted last week, but said there is a need to remain hawkish amid lingering upside risks to inflation.
\nMost sectoral indices ended higher on Thursday. Holding firms increased by 228.11 points or 3.82% to 6,185.79; property rose by 96.92 points or 3.51% to 2,851.14; financials went up by 27.77 points or 1.64% to 1,719.58; industrials gained 144.33 points or 1.64% to end at 8,926.87; and mining and oil climbed by 61.44 points or 0.64% to 9,573.89.\u00a0
\nMeanwhile, services slipped by 6.28 points or 0.4% to 1,546.28.
\nValue turnover went up to P6.78 billion on Thursday with 385.71 million issues changing hands from the P3.55 billion with 245.11 million shares seen the previous day.
\nAdvancers overwhelmed decliners, 120 against 59, while 44 names ended unchanged.
\nNet foreign selling climbed to P367.52 million on Thursday from P280.55 million on Wednesday. \u2014 with Reuters
\n", "content_text": "PHILIPPINE SHARES rebounded on Thursday on improved investor sentiment as the US Federal Reserve kept rates steady at its final meeting this year, with its chief saying they are done hiking borrowing costs. \nThe Philippine Stock Exchange index rose by 154.74 points or 2.47% to end at 6,410.48 on Thursday, while the broader all shares index climbed by 55.82 points or 1.67% to close at 3,394.96.\u00a0\n\u201cThis Thursday, the local market rose by 154.74 points to 6,410.48 as investors cheered the Federal Reserve\u2019s dovish outlook after it held policy rates unchanged in its recent meeting. The Federal Reserve stated that they anticipate three possible rate cuts for 2024, to be done in 25-basis-point (bp) increments,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message. \n\u201cThis gave hope that the Fed may ease their policy soon after more than a year-long combat against inflation. As a result, the bourse was in the green territory for the whole session and even breached the 6,400 resistance level,\u201d he added.\u00a0\nThe Federal Reserve left interest rates unchanged on Wednesday and US central bank chief Jerome H. Powell said the historic tightening of monetary policy is likely over as inflation falls faster than expected and with a discussion of cuts in borrowing costs coming \u201cinto view,\u201d Reuters reported.\n\u201cPeople are not writing down rate hikes\u201d in their latest economic projections, Mr. Powell said in a press conference following the end of the central bank\u2019s final policy meeting of the year.\n\u201cThat\u2019s us thinking we\u2019ve done enough,\u201d he said, adding that rate increases were \u201cnot the base case anymore.\u201d\n\u201cLocally, investors bought into the assumption that the Bangko Sentral ng Pilipinas (BSP) would follow in a similar fashion, maintaining its own policy rate, but reducing this next year,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.\nThe BSP on Thursday kept its policy rate steady at a 16-year high of 6.5% for a second straight meeting, as expected by 15 of 17 analysts in a BusinessWorld poll conducted last week, but said there is a need to remain hawkish amid lingering upside risks to inflation.\nMost sectoral indices ended higher on Thursday. Holding firms increased by 228.11 points or 3.82% to 6,185.79; property rose by 96.92 points or 3.51% to 2,851.14; financials went up by 27.77 points or 1.64% to 1,719.58; industrials gained 144.33 points or 1.64% to end at 8,926.87; and mining and oil climbed by 61.44 points or 0.64% to 9,573.89.\u00a0\nMeanwhile, services slipped by 6.28 points or 0.4% to 1,546.28.\nValue turnover went up to P6.78 billion on Thursday with 385.71 million issues changing hands from the P3.55 billion with 245.11 million shares seen the previous day.\nAdvancers overwhelmed decliners, 120 against 59, while 44 names ended unchanged.\nNet foreign selling climbed to P367.52 million on Thursday from P280.55 million on Wednesday. \u2014 with Reuters", "date_published": "2023-12-14T21:00:37+08:00", "date_modified": "2023-12-14T19:05:52+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/07/PSE-trading-floor-traders.jpg", "tags": [ "index", "stocks", "trading", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=563440", "url": "https://www.bworldonline.com/stock-market/2023/12/13/563440/shares-drop-as-market-awaits-fed-bsp-decisions/", "title": "Shares drop as market awaits Fed, BSP decisions", "content_html": "PHILIPPINE SHARES declined anew on Wednesday as investors anticipate the policy decisions of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).
\nThe Philippine Stock Exchange index (PSEi) dropped by 36.65 points or 0.58% to end at 6,255.74 on Wednesday, while the broader all shares index fell by 14.32 points or 0.42% to close at 3,339.14.
\n\u201cThe local bourse dropped by 36.65 points to 6,255.74 as investors awaited the decisions of the Federal Reserve and the Bangko Sentral ng Pilipinas regarding interest rates in the US and the Philippines, respec-tively,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.
\n\u201cAside from the interest rate decisions, investors also want to know their outlook on the inflation rate and the timing of monetary policy easing,\u201d Ms. Alviar added.
\nThe Fed was set to announce its policy decision overnight after a two-day review. It was expected to keep its target rate unchanged at 5.25-5.5% for a third straight meeting.
\nMeanwhile, the BSP will hold its final policy meeting for this year on Thursday.
\nA BusinessWorld poll conducted last week showed 15 out of 17 analysts expect the Monetary Board to hold the target reverse repurchase rate steady at 6.5% for a second straight meeting.
\n\u201cPhilippine shares traded with a negative bias as traders braced for the final Fed meeting of the year,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.
\n\u201cMany started to position themselves ahead of the BSP\u2019s policy-setting meeting on Dec. 14 and ahead of the release of November inflation data in the US,\u201d he added.
\nThe November US producer price index report was set to be released overnight.
\nA report released by the US Labor department on Tuesday showed that the US consumer price index (CPI) edged up 0.1% last month after being unchanged in October, Reuters reported.
\nIn the 12 months through November, the CPI increased 3.1% after rising 3.2% in October.
\nBack home, almost all sectoral indices ended lower on Wednesday. Property went down by 32.75 points or 1.17% to 2,754.22; holding firms retreated by 49.87 points or 0.83% to 5,957.68; mining and oil declined by 52.82 points or 0.55% to 9,512.45; financials dropped by 6.42 points or 0.37% to 1,691.81; and industrials decreased by 12.87 points or 0.14% to 8,782.54.
\nMeanwhile, services rose by 2.65 points or 0.17% to 1,552.56.
\nValue turnover went up to P3.55 billion on Wednesday with 245.11 million shares changing hands from the P3.25 billion with 314.76 million issues seen the previous trading day.
\nDecliners outnumbered advancers, 95 to 64, while 47 names closed unchanged.
\nNet foreign selling stood at P280.55 million on Wednesday versus the P158.02 million in net buying seen on Tuesday. \u2014 R.M.D. Ochave with Reuters
\n", "content_text": "PHILIPPINE SHARES declined anew on Wednesday as investors anticipate the policy decisions of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).\nThe Philippine Stock Exchange index (PSEi) dropped by 36.65 points or 0.58% to end at 6,255.74 on Wednesday, while the broader all shares index fell by 14.32 points or 0.42% to close at 3,339.14.\n\u201cThe local bourse dropped by 36.65 points to 6,255.74 as investors awaited the decisions of the Federal Reserve and the Bangko Sentral ng Pilipinas regarding interest rates in the US and the Philippines, respec-tively,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\n\u201cAside from the interest rate decisions, investors also want to know their outlook on the inflation rate and the timing of monetary policy easing,\u201d Ms. Alviar added.\nThe Fed was set to announce its policy decision overnight after a two-day review. It was expected to keep its target rate unchanged at 5.25-5.5% for a third straight meeting.\nMeanwhile, the BSP will hold its final policy meeting for this year on Thursday.\nA BusinessWorld poll conducted last week showed 15 out of 17 analysts expect the Monetary Board to hold the target reverse repurchase rate steady at 6.5% for a second straight meeting.\n\u201cPhilippine shares traded with a negative bias as traders braced for the final Fed meeting of the year,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.\n\u201cMany started to position themselves ahead of the BSP\u2019s policy-setting meeting on Dec. 14 and ahead of the release of November inflation data in the US,\u201d he added.\nThe November US producer price index report was set to be released overnight.\nA report released by the US Labor department on Tuesday showed that the US consumer price index (CPI) edged up 0.1% last month after being unchanged in October, Reuters reported.\nIn the 12 months through November, the CPI increased 3.1% after rising 3.2% in October.\nBack home, almost all sectoral indices ended lower on Wednesday. Property went down by 32.75 points or 1.17% to 2,754.22; holding firms retreated by 49.87 points or 0.83% to 5,957.68; mining and oil declined by 52.82 points or 0.55% to 9,512.45; financials dropped by 6.42 points or 0.37% to 1,691.81; and industrials decreased by 12.87 points or 0.14% to 8,782.54.\nMeanwhile, services rose by 2.65 points or 0.17% to 1,552.56.\nValue turnover went up to P3.55 billion on Wednesday with 245.11 million shares changing hands from the P3.25 billion with 314.76 million issues seen the previous trading day.\nDecliners outnumbered advancers, 95 to 64, while 47 names closed unchanged.\nNet foreign selling stood at P280.55 million on Wednesday versus the P158.02 million in net buying seen on Tuesday. \u2014 R.M.D. Ochave with Reuters", "date_published": "2023-12-13T21:00:33+08:00", "date_modified": "2023-12-14T05:30:18+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/rgentribirthfurd/", "avatar": "https://secure.gravatar.com/avatar/67e0d160ec455979f75e504cb026950a?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/rgentribirthfurd/", "avatar": "https://secure.gravatar.com/avatar/67e0d160ec455979f75e504cb026950a?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/03/PSE-stocks.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=563146", "url": "https://www.bworldonline.com/stock-market/2023/12/12/563146/psei-rises-before-us-cpi-data-policy-meetings/", "title": "PSEi rises before US CPI data, policy meetings", "content_html": "PHILIPPINE STOCKS rose on Tuesday to end a three-day skid as investors await the release of November US consumer price index (CPI) data and the policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).
\nThe bellwether Philippine Stock Exchange index (PSEi) climbed by 64.10 points or 1.02% to end at 6,292.39 on Tuesday, while the broader all shares index jumped by 25.81 points or 0.77% to close at 3,353.46.\u00a0
\n\u201cThe index surged on market-on-close buying as traders continued to position ahead of the release of US November inflation data as well as the much-awaited policy meetings of the Federal Reserve and Bangko Sentral ng Pilipinas,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.
\n\u201cThis Tuesday, the local market rose… as investors took positive cues from Wall Street overnight amid expectations that US inflation further slowed down in November. Additionally, the anticipation that both the Federal Reserve and the BSP will be holding key policy rates amid cooling inflation in the US and at home contributed to the climb,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.
\nThe November US CPI report was set to be released overnight.
\nMeanwhile, the Fed will hold its final review for the year on Dec. 12-13, while the BSP\u2019s Monetary Board will meet to discuss policy on Dec. 14.
\nThe US central bank is widely expected to keep its target rate at the 5.25%-5.5% range for a third straight meeting this week.
\nIt has hiked rates by a cumulative 525 basis points (bps) since it began its tightening cycle in March 2022.
\nOn the other hand, a BusinessWorld poll last week showed 15 out of 17 analysts expect the Monetary Board to keep its target reverse repurchase rate steady at a 16-year high of 6.5% on Thursday, with the BSP remaining vigilant amid lingering risks to prices despite easing inflation recently.
\nThe BSP has raised benchmark interest rates by a cumulative 450 bps since May 2022.
\nAll sectoral indices closed higher on Tuesday. Financials went up by 25.76 points or 1.54% to 1,698.23; property rose by 24.53 points or 0.88% to 2,786.97; holding firms climbed by 50.94 points or 0.85% to 6,007.55; services increased by 12.21 points or 0.79% to 1,549.91; industrials added 56.92 points or 0.65% to end at 8,795.41; and mining and oil gained 21.33 points or 0.22% to close at 9,565.27.\u00a0
\nValue turnover dropped to P3.25 billion on Tuesday with 314.76 million shares changing hands from the P4.06 billion with 392.39 million issues seen on Monday.\u00a0
\nAdvancers beat decliners, 97 to 61, while 55 names closed unchanged.\u00a0
\nNet foreign buying stood at P158.02 million on Tuesday versus the P32.81 million in net selling posted on Monday. \u2014 R.M.D. Ochave
\n", "content_text": "PHILIPPINE STOCKS rose on Tuesday to end a three-day skid as investors await the release of November US consumer price index (CPI) data and the policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).\nThe bellwether Philippine Stock Exchange index (PSEi) climbed by 64.10 points or 1.02% to end at 6,292.39 on Tuesday, while the broader all shares index jumped by 25.81 points or 0.77% to close at 3,353.46.\u00a0\n\u201cThe index surged on market-on-close buying as traders continued to position ahead of the release of US November inflation data as well as the much-awaited policy meetings of the Federal Reserve and Bangko Sentral ng Pilipinas,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.\n\u201cThis Tuesday, the local market rose… as investors took positive cues from Wall Street overnight amid expectations that US inflation further slowed down in November. Additionally, the anticipation that both the Federal Reserve and the BSP will be holding key policy rates amid cooling inflation in the US and at home contributed to the climb,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.\nThe November US CPI report was set to be released overnight.\nMeanwhile, the Fed will hold its final review for the year on Dec. 12-13, while the BSP\u2019s Monetary Board will meet to discuss policy on Dec. 14.\nThe US central bank is widely expected to keep its target rate at the 5.25%-5.5% range for a third straight meeting this week.\nIt has hiked rates by a cumulative 525 basis points (bps) since it began its tightening cycle in March 2022.\nOn the other hand, a BusinessWorld poll last week showed 15 out of 17 analysts expect the Monetary Board to keep its target reverse repurchase rate steady at a 16-year high of 6.5% on Thursday, with the BSP remaining vigilant amid lingering risks to prices despite easing inflation recently.\nThe BSP has raised benchmark interest rates by a cumulative 450 bps since May 2022.\nAll sectoral indices closed higher on Tuesday. Financials went up by 25.76 points or 1.54% to 1,698.23; property rose by 24.53 points or 0.88% to 2,786.97; holding firms climbed by 50.94 points or 0.85% to 6,007.55; services increased by 12.21 points or 0.79% to 1,549.91; industrials added 56.92 points or 0.65% to end at 8,795.41; and mining and oil gained 21.33 points or 0.22% to close at 9,565.27.\u00a0\nValue turnover dropped to P3.25 billion on Tuesday with 314.76 million shares changing hands from the P4.06 billion with 392.39 million issues seen on Monday.\u00a0\nAdvancers beat decliners, 97 to 61, while 55 names closed unchanged.\u00a0\nNet foreign buying stood at P158.02 million on Tuesday versus the P32.81 million in net selling posted on Monday. \u2014 R.M.D. Ochave", "date_published": "2023-12-12T21:00:14+08:00", "date_modified": "2023-12-12T18:44:30+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-bell-1.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=562874", "url": "https://www.bworldonline.com/stock-market/2023/12/11/562874/phl-stocks-drop-as-us-jobs-data-fuel-rate-bets/", "title": "PHL stocks drop as US jobs data fuel rate bets", "content_html": "STOCKS dropped further on Monday following strong US jobs data, which could support expectations that interest rates will remain steady in the world\u2019s largest economy, a stance that could be mirrored by the Philippine central bank.
\nThe benchmark Philippine Stock Exchange index (PSEi) dropped by 6.48 points or 0.1% to end at 6,228.29 on Monday, while the broader all shares index declined by 1.93 points or 0.05% to finish at 3,327.65.\u00a0
\n\u201cThe market is down on strong US employment numbers, pointing to an extended Fed hawkish pause, reinforcing the Bangko Sentral ng Pilipinas\u2019 (BSP) steady hold on the key rate and vigilant stance on the local currency,\u201d First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message.
\nA US Labor department report showed nonfarm payrolls increased by 199,000 jobs in November, compared with an estimated increase of 180,000, Reuters reported.
\nThe unemployment rate slipped to 3.7%, while average earnings edged up to 0.4% on a monthly basis, compared with forecasts of 0.3% growth.
\nInterest rate futures show traders widely expect the Federal Reserve to hold interest rates steady at its meeting on Dec. 12-13, according to the CME FedWatch tool.
\n\u201cThe local bourse dropped… as investors digested the statement of the BSP Governor Eli M. Remolona, Jr. that it is premature to discuss policy easing in 2024, prompting negative sentiment due to potential adverse impacts on the economy with prolonged elevated interest rates,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.
\nMr. Remolona last week said it is premature to discuss policy easing in 2024, with the Monetary Board still prepared to hike borrowing costs if needed to make sure inflation returns to the 2-4% target range.
\nThe Monetary Board will hold its last policy meeting for this year on Thursday, a day after the Fed\u2019s review.
\nA BusinessWorld poll last week showed 15 out of 17 analysts expect the Monetary Board to keep its target reverse repurchase rate steady this week, with the central bank remaining vigilant amid lingering upside risks to prices despite easing inflation recently.
\nMost sectoral indices declined on Monday. Financials went down by 33.26 points or 1.95% to 1,672.47; mining and oil dropped by 96.56 points or 1% to 9,543.94; industrials retreated by 24.21 points or 0.27% to 8,738.49; and services decreased by 3.66 points or 0.23% to 1,537.70.\u00a0
\nMeanwhile, holding firms rose by 44.57 points or 0.75% to 5,956.61 and property climbed by 18.06 points or 0.65% to 2,762.44.
\nValue turnover went up to P4.06 billion on Monday with 392.39 million issues changing hands from the P3.67 billion with 270.24 million issues traded on Thursday.
\nDecliners outnumbered advancers, 118 to 64, while 48 names ended unchanged.\u00a0
\nNet foreign selling dropped to P32.81 million on Monday from P410.52 million on Thursday.
\nThe market was closed on Friday for a non-working holiday. \u2014 RMDO with Reuters
\n", "content_text": "STOCKS dropped further on Monday following strong US jobs data, which could support expectations that interest rates will remain steady in the world\u2019s largest economy, a stance that could be mirrored by the Philippine central bank.\nThe benchmark Philippine Stock Exchange index (PSEi) dropped by 6.48 points or 0.1% to end at 6,228.29 on Monday, while the broader all shares index declined by 1.93 points or 0.05% to finish at 3,327.65.\u00a0\n\u201cThe market is down on strong US employment numbers, pointing to an extended Fed hawkish pause, reinforcing the Bangko Sentral ng Pilipinas\u2019 (BSP) steady hold on the key rate and vigilant stance on the local currency,\u201d First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message.\nA US Labor department report showed nonfarm payrolls increased by 199,000 jobs in November, compared with an estimated increase of 180,000, Reuters reported.\nThe unemployment rate slipped to 3.7%, while average earnings edged up to 0.4% on a monthly basis, compared with forecasts of 0.3% growth.\nInterest rate futures show traders widely expect the Federal Reserve to hold interest rates steady at its meeting on Dec. 12-13, according to the CME FedWatch tool.\n\u201cThe local bourse dropped… as investors digested the statement of the BSP Governor Eli M. Remolona, Jr. that it is premature to discuss policy easing in 2024, prompting negative sentiment due to potential adverse impacts on the economy with prolonged elevated interest rates,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\nMr. Remolona last week said it is premature to discuss policy easing in 2024, with the Monetary Board still prepared to hike borrowing costs if needed to make sure inflation returns to the 2-4% target range.\nThe Monetary Board will hold its last policy meeting for this year on Thursday, a day after the Fed\u2019s review.\nA BusinessWorld poll last week showed 15 out of 17 analysts expect the Monetary Board to keep its target reverse repurchase rate steady this week, with the central bank remaining vigilant amid lingering upside risks to prices despite easing inflation recently.\nMost sectoral indices declined on Monday. Financials went down by 33.26 points or 1.95% to 1,672.47; mining and oil dropped by 96.56 points or 1% to 9,543.94; industrials retreated by 24.21 points or 0.27% to 8,738.49; and services decreased by 3.66 points or 0.23% to 1,537.70.\u00a0\nMeanwhile, holding firms rose by 44.57 points or 0.75% to 5,956.61 and property climbed by 18.06 points or 0.65% to 2,762.44.\nValue turnover went up to P4.06 billion on Monday with 392.39 million issues changing hands from the P3.67 billion with 270.24 million issues traded on Thursday.\nDecliners outnumbered advancers, 118 to 64, while 48 names ended unchanged.\u00a0\nNet foreign selling dropped to P32.81 million on Monday from P410.52 million on Thursday.\nThe market was closed on Friday for a non-working holiday. \u2014 RMDO with Reuters", "date_published": "2023-12-11T21:00:05+08:00", "date_modified": "2023-12-11T18:50:02+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/09/PSE-board.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=562533", "url": "https://www.bworldonline.com/stock-market/2023/12/10/562533/fed-bsp-meetings-to-drive-this-weeks-trading/", "title": "Fed, BSP meetings to drive this week\u2019s trading", "content_html": "THE UPCOMING policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) will be the main drivers of this week\u2019s stock trading as investors await guidance on the direction of benchmark interest rates here and abroad.
\nOn Thursday, the Philippine Stock Exchange index (PSEi) declined by 71.08 points or 1.12% to end at 6,234.77, while the broader all shares index retreated by 22.08 points or 0.65% to close at 3,329.58.\u00a0
\nWeek on week, the PSEi fell by 10.41 points from its 6,245.18 close on Dec. 1. The stock market was closed on Friday for a nonworking day.
\n\u201cThe local bourse was range-bound for the week amid steady local inflation in November,\u201d online brokerage 2TradeAsia.com said in a market report.
\nThe market has been on a losing streak for two straight weeks amid profit-taking, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.
\n\u201cThe local market remains at bargain levels with a price-earnings ratio of 13.46 times, below the 2018-2022 average of 19.08 times. However, strong buying may only happen if investors see catalysts that would brighten our economic outlook,\u201d he added.
\nFor this week, the policy meetings of the Fed and the BSP will be the main trading drivers, Mr.\u00a0Tantiangco said.
\nThe Federal Open Market Committee will hold its final review for the year on Dec. 12-13, while the BSP\u2019s Monetary Board will meet to discuss policy on Dec. 14.
\n\u201c[This] week, investors are expected to focus on the policy meetings of the Federal Reserve and the BSP as they look for clues on the outlook for interest rates. Hints of easing may spur optimism in the market while hints of further tightening is expected to weigh on sentiment,\u201d he said.
\n\u201cThe BSP is likely to echo the Fed in a status quo in rates. Philippine inflation has further eased to 4.1% in November from October\u2019s 4.9%, and prior rate hikes have seemingly impacted foreign exchange and money supply as intended,\u201d 2TradeAsia.com said.\u00a0
\nThe market will also await hints on the timing of Fed and BSP rate cuts, it said.
\nThe BSP has raised benchmark interest rates by a cumulative 450 basis points (bps) since May 2022 to help bring down its inflation, with its policy rate now at a 16-year high of 6.5%.
\nMeanwhile, the US central bank has hiked rates by a cumulative 525 bps to the 5.25%-5.5% range since it began its tightening cycle in March 2022.
\nInvestors expect both the BSP and the Fed to start easing their policy stances by 2024.
\n\u201cInvestors may also look towards our upcoming foreign trade, foreign investment, and overseas Filipino workers cash remittances data for clues on our local economy,\u201d Mr. Tantiangco added.\u00a0
\nHe expects the PSEi to retest its 10-day exponential moving average this week.
\n\u201cThe market\u2019s major support is seen at 6,000. Major resistance is seen at 6,400,\u201d he added. \u2014 R.M.D. Ochave
\n", "content_text": "THE UPCOMING policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) will be the main drivers of this week\u2019s stock trading as investors await guidance on the direction of benchmark interest rates here and abroad.\nOn Thursday, the Philippine Stock Exchange index (PSEi) declined by 71.08 points or 1.12% to end at 6,234.77, while the broader all shares index retreated by 22.08 points or 0.65% to close at 3,329.58.\u00a0\nWeek on week, the PSEi fell by 10.41 points from its 6,245.18 close on Dec. 1. The stock market was closed on Friday for a nonworking day. \n\u201cThe local bourse was range-bound for the week amid steady local inflation in November,\u201d online brokerage 2TradeAsia.com said in a market report.\nThe market has been on a losing streak for two straight weeks amid profit-taking, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.\n\u201cThe local market remains at bargain levels with a price-earnings ratio of 13.46 times, below the 2018-2022 average of 19.08 times. However, strong buying may only happen if investors see catalysts that would brighten our economic outlook,\u201d he added.\nFor this week, the policy meetings of the Fed and the BSP will be the main trading drivers, Mr.\u00a0Tantiangco said.\nThe Federal Open Market Committee will hold its final review for the year on Dec. 12-13, while the BSP\u2019s Monetary Board will meet to discuss policy on Dec. 14.\n\u201c[This] week, investors are expected to focus on the policy meetings of the Federal Reserve and the BSP as they look for clues on the outlook for interest rates. Hints of easing may spur optimism in the market while hints of further tightening is expected to weigh on sentiment,\u201d he said.\n\u201cThe BSP is likely to echo the Fed in a status quo in rates. Philippine inflation has further eased to 4.1% in November from October\u2019s 4.9%, and prior rate hikes have seemingly impacted foreign exchange and money supply as intended,\u201d 2TradeAsia.com said.\u00a0\nThe market will also await hints on the timing of Fed and BSP rate cuts, it said.\nThe BSP has raised benchmark interest rates by a cumulative 450 basis points (bps) since May 2022 to help bring down its inflation, with its policy rate now at a 16-year high of 6.5%.\nMeanwhile, the US central bank has hiked rates by a cumulative 525 bps to the 5.25%-5.5% range since it began its tightening cycle in March 2022.\nInvestors expect both the BSP and the Fed to start easing their policy stances by 2024.\n\u201cInvestors may also look towards our upcoming foreign trade, foreign investment, and overseas Filipino workers cash remittances data for clues on our local economy,\u201d Mr. Tantiangco added.\u00a0\nHe expects the PSEi to retest its 10-day exponential moving average this week.\n\u201cThe market\u2019s major support is seen at 6,000. Major resistance is seen at 6,400,\u201d he added. \u2014 R.M.D. Ochave", "date_published": "2023-12-10T21:00:37+08:00", "date_modified": "2023-12-10T16:37:00+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/03/PSE-stocks-bell.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=562336", "url": "https://www.bworldonline.com/stock-market/2023/12/07/562336/phl-stocks-drop-further-to-track-asian-us-shares/", "title": "PHL stocks drop further to track Asian, US shares", "content_html": "STOCKS dropped further on Thursday to track Wall Street\u2019s and Asian markets\u2019 decline on continued profit taking and as the market looked for fresh trading drivers.
\nThe Philippine Stock Exchange index fell by 71.08 points or 1.12% to end at 6,234.77 on Thursday, while the broader all shares index declined by 22.08 points or 0.65% to 3,329.58.
\n\u201cThis Thursday, the local market dropped by 71.08 points to 6,234.77. Investors took cues from Wall Street\u2019s overnight performance wherein trading was cautious as investors await the US\u2019 November labor market data,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.
\nMarket sentiment was also affected by the 2022 Program for International Student Assessment rankings, where the Philippines placed 77th out of 81 countries, he said.
\n\u201cAdditionally, the dismal ranking of the Philippines in the recent 2022 Program for International Student Assessment… was digested by investors. The results reflected our relatively challenged educational sector, which can have consequences on our economy\u2019s competitiveness in the long run,\u201d Mr. Plopenio said.
\n\u201cThe market was weaker today in tandem with most of the Asian markets. Local market weakness was exacerbated by profit-taking as we encountered resistance at the 6,300 level,\u201d AB Capital Securities, Inc. Vice-President Jovis L. Vistan added in a Viber message.
\nAsian shares fell with Wall Street on Thursday, while a sharp fall in oil prices to a six-month low and a soft reading on the US labor market boosted the global bond market, Reuters reported.
\nMSCI\u2019s broadest index of Asia-Pacific shares outside Japan fell 0.8%, pulling it down 1.9% so far this month after a 7.3% rally in November. Japan\u2019s Nikkei fell 1.7%.
\nOvernight, Wall Street was dragged lower by energy stocks as oil prices slid and by tech shares. The Dow Jones slipped 0.2%; the S&P 500 lost 0.4%; and the Nasdaq Composite fell 0.6%.
\nAt home, sectoral indices declined on Thursday. Financials dropped by 26.47 points or 1.52% to 1,705.73; services retreated by 21.33 points or 1.36% to 1,541.36; holding firms went down by 65.63 points or 1.09% to 5,912.04; property lost 13.84 points or 0.5% to end at 2,744.38; mining and oil dropped by 48.05 points or 0.49% to 9,640.50; and industrials declined by 41.13 points or 0.46% to 8,762.70.
\n\u201cAmong the index members, Wilcon Depot, Inc. was at the top, climbing 1.99% to P20.50. Ayala Corp. lost the most, dropping 3.1% to P640.00,\u201d Mr. Plopenio said.\u00a0
\nValue turnover went down to P3.67 billion with 270.24 million shares switching hands from the P5.67 billion with 345.22 million issues seen the prior day.
\nAdvancers edged out decliners, 83 against 82, while 49 names closed unchanged.\u00a0
\nNet foreign selling stood at P410.52 million on Thursday versus the P378.57 million in net buying logged on Wednesday. \u2014 RMDO with Reuters
\n", "content_text": "STOCKS dropped further on Thursday to track Wall Street\u2019s and Asian markets\u2019 decline on continued profit taking and as the market looked for fresh trading drivers.\nThe Philippine Stock Exchange index fell by 71.08 points or 1.12% to end at 6,234.77 on Thursday, while the broader all shares index declined by 22.08 points or 0.65% to 3,329.58.\n\u201cThis Thursday, the local market dropped by 71.08 points to 6,234.77. Investors took cues from Wall Street\u2019s overnight performance wherein trading was cautious as investors await the US\u2019 November labor market data,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.\nMarket sentiment was also affected by the 2022 Program for International Student Assessment rankings, where the Philippines placed 77th out of 81 countries, he said.\n\u201cAdditionally, the dismal ranking of the Philippines in the recent 2022 Program for International Student Assessment… was digested by investors. The results reflected our relatively challenged educational sector, which can have consequences on our economy\u2019s competitiveness in the long run,\u201d Mr. Plopenio said.\n\u201cThe market was weaker today in tandem with most of the Asian markets. Local market weakness was exacerbated by profit-taking as we encountered resistance at the 6,300 level,\u201d AB Capital Securities, Inc. Vice-President Jovis L. Vistan added in a Viber message.\nAsian shares fell with Wall Street on Thursday, while a sharp fall in oil prices to a six-month low and a soft reading on the US labor market boosted the global bond market, Reuters reported.\nMSCI\u2019s broadest index of Asia-Pacific shares outside Japan fell 0.8%, pulling it down 1.9% so far this month after a 7.3% rally in November. Japan\u2019s Nikkei fell 1.7%.\nOvernight, Wall Street was dragged lower by energy stocks as oil prices slid and by tech shares. The Dow Jones slipped 0.2%; the S&P 500 lost 0.4%; and the Nasdaq Composite fell 0.6%.\nAt home, sectoral indices declined on Thursday. Financials dropped by 26.47 points or 1.52% to 1,705.73; services retreated by 21.33 points or 1.36% to 1,541.36; holding firms went down by 65.63 points or 1.09% to 5,912.04; property lost 13.84 points or 0.5% to end at 2,744.38; mining and oil dropped by 48.05 points or 0.49% to 9,640.50; and industrials declined by 41.13 points or 0.46% to 8,762.70. \n\u201cAmong the index members, Wilcon Depot, Inc. was at the top, climbing 1.99% to P20.50. Ayala Corp. lost the most, dropping 3.1% to P640.00,\u201d Mr. Plopenio said.\u00a0\nValue turnover went down to P3.67 billion with 270.24 million shares switching hands from the P5.67 billion with 345.22 million issues seen the prior day.\nAdvancers edged out decliners, 83 against 82, while 49 names closed unchanged.\u00a0\nNet foreign selling stood at P410.52 million on Thursday versus the P378.57 million in net buying logged on Wednesday. \u2014 RMDO with Reuters", "date_published": "2023-12-07T21:00:33+08:00", "date_modified": "2023-12-07T18:41:14+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-720p-2.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=561994", "url": "https://www.bworldonline.com/stock-market/2023/12/06/561994/shares-go-down-on-profit-taking-lack-of-drivers/", "title": "Shares go down on profit taking, lack of drivers", "content_html": "PHILIPPINE SHARES closed lower on Wednesday as investors pocketed their profits after the market\u2019s three-day rally amid a lack of fresh leads and as the country\u2019s outstanding debt reached another record high.
\nThe bellwether Philippine Stock Exchange index (PSEi) dropped by 3.10 points or 0.04% to finish at 6,305.85 on Wednesday, while the broader all shares index inched down by 0.36 point or 0.01% to close at 3,351.66.
\n\u201cThe local bourse declined by 3.10 points to 6,305.85 as investors booked some gains after the three consecutive days of market rally. In addition, the national government\u2019s outstanding debt, which reached a record of P14.48 trillion as of end-October, somehow weighed on sentiment,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.
\nThe National Government\u2019s outstanding debt went up by 1.49% from P14.27 trillion as of end-September, data from the Bureau of the Treasury showed.
\nYear on year, the debt stock rose by 6.16% from P13.64 trillion. It also increased by 7.91% from P13.42 trillion at the end of December 2022.
\n\u201cPhilippine shares closed almost flat, with investors trying to get more cues from overseas that the world\u2019s largest economy is still on an uninterrupted path to recovery,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
\n\u201cDespite the losses in the US [overnight], the past five weeks of consecutive gains means that all three stock indexes are still on track to end the quarter and year with big gains,\u201d he added.
\nWall Street finished mixed on Tuesday after fresh employment data bolstered bets that the US Federal Reserve will cut interest rates as soon as March, Reuters reported.
\nThe S&P 500 declined 0.06% to end the session at 4,567.18 points.
\nThe Nasdaq gained 0.31% to 14,229.91 points, while Dow Jones Industrial Average declined 0.22% to 36,124.56 points.
\n\u201cThe stock market is down as 6,300 is proving to be a tough resistance. The market awaits more catalyst for 6,399 to become new support,\u201d First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message.
\nThe majority of sectoral indices closed lower on Wednesday. Financials declined by 15.63 points or 0.89% to 1,732.20; mining and oil retreated by 64.22 points or 0.65% to 9,688.55; industrials went down by 25.22 points or 0.28% to 8,803.83; and property dropped by 7.66 points or 0.27% to 2,758.22.
\nMeanwhile, services climbed by 14.38 points or 0.92% to 1,562.69, and holding firms rose by 17.33 points or 0.29% to 5,977.67.\u00a0
\nValue turnover rose to P5.67 billion on Wednesday with 345.22 million issues changing hands from the P4.01 billion with 622.4 million issues seen on Tuesday.
\nDecliners outnumbered advancers, 92 versus 79, while 50 names closed unchanged.
\nNet foreign buying stood at P378.57 million on Wednesday versus the P182.43 million in net selling logged on Tuesday. \u2014 R.M.D. Ochave with Reuters
\n", "content_text": "PHILIPPINE SHARES closed lower on Wednesday as investors pocketed their profits after the market\u2019s three-day rally amid a lack of fresh leads and as the country\u2019s outstanding debt reached another record high.\nThe bellwether Philippine Stock Exchange index (PSEi) dropped by 3.10 points or 0.04% to finish at 6,305.85 on Wednesday, while the broader all shares index inched down by 0.36 point or 0.01% to close at 3,351.66.\n\u201cThe local bourse declined by 3.10 points to 6,305.85 as investors booked some gains after the three consecutive days of market rally. In addition, the national government\u2019s outstanding debt, which reached a record of P14.48 trillion as of end-October, somehow weighed on sentiment,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\nThe National Government\u2019s outstanding debt went up by 1.49% from P14.27 trillion as of end-September, data from the Bureau of the Treasury showed.\nYear on year, the debt stock rose by 6.16% from P13.64 trillion. It also increased by 7.91% from P13.42 trillion at the end of December 2022.\n\u201cPhilippine shares closed almost flat, with investors trying to get more cues from overseas that the world\u2019s largest economy is still on an uninterrupted path to recovery,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.\n\u201cDespite the losses in the US [overnight], the past five weeks of consecutive gains means that all three stock indexes are still on track to end the quarter and year with big gains,\u201d he added.\nWall Street finished mixed on Tuesday after fresh employment data bolstered bets that the US Federal Reserve will cut interest rates as soon as March, Reuters reported.\nThe S&P 500 declined 0.06% to end the session at 4,567.18 points.\nThe Nasdaq gained 0.31% to 14,229.91 points, while Dow Jones Industrial Average declined 0.22% to 36,124.56 points.\n\u201cThe stock market is down as 6,300 is proving to be a tough resistance. The market awaits more catalyst for 6,399 to become new support,\u201d First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message.\nThe majority of sectoral indices closed lower on Wednesday. Financials declined by 15.63 points or 0.89% to 1,732.20; mining and oil retreated by 64.22 points or 0.65% to 9,688.55; industrials went down by 25.22 points or 0.28% to 8,803.83; and property dropped by 7.66 points or 0.27% to 2,758.22.\nMeanwhile, services climbed by 14.38 points or 0.92% to 1,562.69, and holding firms rose by 17.33 points or 0.29% to 5,977.67.\u00a0\nValue turnover rose to P5.67 billion on Wednesday with 345.22 million issues changing hands from the P4.01 billion with 622.4 million issues seen on Tuesday.\nDecliners outnumbered advancers, 92 versus 79, while 50 names closed unchanged.\nNet foreign buying stood at P378.57 million on Wednesday versus the P182.43 million in net selling logged on Tuesday. \u2014 R.M.D. Ochave with Reuters", "date_published": "2023-12-06T21:00:27+08:00", "date_modified": "2023-12-06T18:39:04+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/09/PSE.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=561722", "url": "https://www.bworldonline.com/stock-market/2023/12/05/561722/phl-stocks-climb-as-inflation-slows-in-november/", "title": "PHL stocks climb as inflation slows in November", "content_html": "PHILIPPINE SHARES ended in positive territory on Tuesday on last-minute bargain hunting and as investor sentiment got a boost from data showing that inflation slowed further last month.
\nThe 30-member Philippine Stock Exchange index (PSEi) rose by 24.58 points or 0.39% to close at 6,308.95 on Tuesday, while the broader all shares index climbed by 4.58 points or 0.13% to finish at 3,352.02.\u00a0
\n\u201cStocks went up on a last-minute surge, driven by the better inflation numbers for November,\u201d AB Capital Securities, Inc. Vice-President Jovis L. Vistan said in a Viber message.\u00a0
\n\u201cThe main index initially encountered resistance at the 6,300 level before ending the day on a positive note,\u201d he added.
\nThe market closed higher on last-minute bargain hunting amid slower November inflation, Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio likewise said in a Viber message.
\n\u201cThe local bourse was in the red territory for the most part of the day before a last-minute push from the buyers ended the session above the 6,300 level,\u201d he added.
\nHeadline inflation slowed to a 4.1% in November from 4.9% in October and 8% in November 2022, data released by the Philippine Statistics Authority on Tuesday showed. This was the lowest rate seen since March 2022\u2019s 4%.
\nThis was near the lower end of the Bangko Sentral ng Pilipinas\u2019 (BSP) 4-4.8% estimate for the month and was below the 4.4% median estimate of 15 economists in a BusinessWorld poll conducted last week.
\nFor the first 11 months, inflation averaged 6.2%, faster than the 5.6% in the same period last year and still well above the BSP\u2019s 2-4% target and 6% baseline forecast for 2023.
\nSectoral indices were mixed on Tuesday. Services rose by 24.45 points or 1.6% to 1,548.31; property increased by 14.36 points or 0.52% to 2,765.88; and holding firms climbed by 11.29 points or 0.19% to 5,960.34.\u00a0
\nOn the other hand, mining and oil fell by 100.61 points or 1.02% to 9,752.77; financials dropped by 3.95 points or 0.22% to 1,747.83; and industrials retreated by 2.11 points or 0.02% to 8,829.05.\u00a0 \u00a0
\nValue turnover climbed to P4.01 billion on Tuesday with 622.4 million issues changing hands from the P3.77 billion with 446.56 million shares logged the previous trading day.
\n\u201cAmong the index members, International Container Terminal Services, Inc. was at the top, climbing 4% to P228.80. Nickel Asia Corp. lost the most, dropping 2.65% to P5.14,\u201d Mr.\u00a0Plopenio said.\u00a0 \u00a0
\nDecliners outnumbered advancers, 94 versus 82, while 41 names closed unchanged.
\nNet foreign selling stood at P182.43 million on Tuesday versus the P287.54 million in net buying recorded on Monday.
\nRizal Commercial Banking Corp. Chief Economist Michael L. Ricafort put the PSEi\u2019s immediate major support at 6,080-6,120 and resistance at the 6,300 level. \u2014 R.M.D. Ochave
\n", "content_text": "PHILIPPINE SHARES ended in positive territory on Tuesday on last-minute bargain hunting and as investor sentiment got a boost from data showing that inflation slowed further last month.\nThe 30-member Philippine Stock Exchange index (PSEi) rose by 24.58 points or 0.39% to close at 6,308.95 on Tuesday, while the broader all shares index climbed by 4.58 points or 0.13% to finish at 3,352.02.\u00a0\n\u201cStocks went up on a last-minute surge, driven by the better inflation numbers for November,\u201d AB Capital Securities, Inc. Vice-President Jovis L. Vistan said in a Viber message.\u00a0\n\u201cThe main index initially encountered resistance at the 6,300 level before ending the day on a positive note,\u201d he added.\nThe market closed higher on last-minute bargain hunting amid slower November inflation, Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio likewise said in a Viber message.\n\u201cThe local bourse was in the red territory for the most part of the day before a last-minute push from the buyers ended the session above the 6,300 level,\u201d he added.\nHeadline inflation slowed to a 4.1% in November from 4.9% in October and 8% in November 2022, data released by the Philippine Statistics Authority on Tuesday showed. This was the lowest rate seen since March 2022\u2019s 4%.\nThis was near the lower end of the Bangko Sentral ng Pilipinas\u2019 (BSP) 4-4.8% estimate for the month and was below the 4.4% median estimate of 15 economists in a BusinessWorld poll conducted last week.\nFor the first 11 months, inflation averaged 6.2%, faster than the 5.6% in the same period last year and still well above the BSP\u2019s 2-4% target and 6% baseline forecast for 2023.\nSectoral indices were mixed on Tuesday. Services rose by 24.45 points or 1.6% to 1,548.31; property increased by 14.36 points or 0.52% to 2,765.88; and holding firms climbed by 11.29 points or 0.19% to 5,960.34.\u00a0\nOn the other hand, mining and oil fell by 100.61 points or 1.02% to 9,752.77; financials dropped by 3.95 points or 0.22% to 1,747.83; and industrials retreated by 2.11 points or 0.02% to 8,829.05.\u00a0 \u00a0\nValue turnover climbed to P4.01 billion on Tuesday with 622.4 million issues changing hands from the P3.77 billion with 446.56 million shares logged the previous trading day. \n\u201cAmong the index members, International Container Terminal Services, Inc. was at the top, climbing 4% to P228.80. Nickel Asia Corp. lost the most, dropping 2.65% to P5.14,\u201d Mr.\u00a0Plopenio said.\u00a0 \u00a0\nDecliners outnumbered advancers, 94 versus 82, while 41 names closed unchanged.\nNet foreign selling stood at P182.43 million on Tuesday versus the P287.54 million in net buying recorded on Monday.\nRizal Commercial Banking Corp. Chief Economist Michael L. Ricafort put the PSEi\u2019s immediate major support at 6,080-6,120 and resistance at the 6,300 level. \u2014 R.M.D. Ochave", "date_published": "2023-12-05T21:00:24+08:00", "date_modified": "2023-12-05T18:35:38+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/10/PSE-building.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=561475", "url": "https://www.bworldonline.com/stock-market/2023/12/04/561475/psei-up-after-strong-manufacturing-data-wall-st/", "title": "PSEi up after strong manufacturing data, Wall St.", "content_html": "PHILIPPINE SHARES climbed on Monday amid strong manufacturing activity data, Wall Street\u2019s rise, and expectations of slower inflation last month.
\nThe Philippine Stock Exchange index (PSEi) went up by 39.19 points or 0.62% to close at 6,284.37 on Monday, while the broader all shares index rose by 15.22 points or 0.45% to end at 3,347.44.
\n\u201cThe local bourse gained\u2026 thanks to the strong S&P Global Philippines Manufacturing PMI (purchasing managers\u2019 index) [data],\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.
\nThe S&P Global Philippines Manufacturing Purchasing Managers\u2019 Index rose to 52.7 in November from 52.4 in October amid robust demand and growth in new orders and production, a report released on Friday showed.
\nA PMI reading above the 50 mark denotes better operating conditions, while a reading below 50 signals deterioration.
\n\u201cMoreover, hopes that the Philippine inflation last month would slow down helped lift the sentiment. However, many were still seen on the sidelines as they wait for the release of the inflation rate,\u201d she added.
\nValue turnover fell to P3.77 billion on Monday with 446.56 million shares changing hands from the P4.41 billion with 1.68 billion issues traded on Friday.
\nMeanwhile, a BusinessWorld poll of 15 analysts yielded a median estimate of 4.4% for November headline inflation, at the midpoint of the 4-4.8% forecast of the Bangko Sentral ng Pilipinas (BSP) for the month.
\nIf realized, the November consumer price index (CPI) would be slower than the 4.9% print in October and the 8% logged in the same month last year. However, November would mark the 20th straight month that inflation exceeded BSP\u2019s 2-4% annual target.
\nNovember CPI data will be released on Tuesday.
\nShares increased due to the \u201cpositive sentiment spillover\u201d from US markets\u2019 rally on Friday, China Bank Securities Corp. Research Associate Lance U. Soledad said in an e-mail.
\n\u201cMoreover, we think that prospects of a continued easing in local inflation further boosted risk-on appetite,\u201d he added.
\nOn Friday, the Dow Jones Industrial Average rose 294.61 points or 0.82% to 36,245.50; the S&P 500 gained 26.83 points or 0.59% to 4,594.63; and the Nasdaq Composite added 78.81 points or 0.55% to 14,305.03, Reuters reported.
\nAt home, all sectoral indices rose on Monday. Mining and oil increased by 219.87 points or 2.28% to 9,853.38; industrials went up by 84.89 points or 0.97% to 8,831.16; financials jumped by 16.37 points or 0.94% to 1,751.78; holding firms advanced by 30.85 points or 0.52% to 5,949.05; services climbed by 3.65 points or 0.24% to 1,523.86; and property rose by 5.67 points or 0.2% to 2,751.52.
\nDecliners outnumbered advancers, 91 versus 83, while 46 names closed unchanged.
\nNet foreign buying declined to P287.54 million on Monday from P1.38 billion on Friday. \u2014 S.J. Talavera with Reuters
\n", "content_text": "PHILIPPINE SHARES climbed on Monday amid strong manufacturing activity data, Wall Street\u2019s rise, and expectations of slower inflation last month.\nThe Philippine Stock Exchange index (PSEi) went up by 39.19 points or 0.62% to close at 6,284.37 on Monday, while the broader all shares index rose by 15.22 points or 0.45% to end at 3,347.44.\n\u201cThe local bourse gained\u2026 thanks to the strong S&P Global Philippines Manufacturing PMI (purchasing managers\u2019 index) [data],\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\nThe S&P Global Philippines Manufacturing Purchasing Managers\u2019 Index rose to 52.7 in November from 52.4 in October amid robust demand and growth in new orders and production, a report released on Friday showed.\nA PMI reading above the 50 mark denotes better operating conditions, while a reading below 50 signals deterioration.\n\u201cMoreover, hopes that the Philippine inflation last month would slow down helped lift the sentiment. However, many were still seen on the sidelines as they wait for the release of the inflation rate,\u201d she added.\nValue turnover fell to P3.77 billion on Monday with 446.56 million shares changing hands from the P4.41 billion with 1.68 billion issues traded on Friday.\nMeanwhile, a BusinessWorld poll of 15 analysts yielded a median estimate of 4.4% for November headline inflation, at the midpoint of the 4-4.8% forecast of the Bangko Sentral ng Pilipinas (BSP) for the month.\nIf realized, the November consumer price index (CPI) would be slower than the 4.9% print in October and the 8% logged in the same month last year. However, November would mark the 20th straight month that inflation exceeded BSP\u2019s 2-4% annual target.\nNovember CPI data will be released on Tuesday.\nShares increased due to the \u201cpositive sentiment spillover\u201d from US markets\u2019 rally on Friday, China Bank Securities Corp. Research Associate Lance U. Soledad said in an e-mail.\n\u201cMoreover, we think that prospects of a continued easing in local inflation further boosted risk-on appetite,\u201d he added.\nOn Friday, the Dow Jones Industrial Average rose 294.61 points or 0.82% to 36,245.50; the S&P 500 gained 26.83 points or 0.59% to 4,594.63; and the Nasdaq Composite added 78.81 points or 0.55% to 14,305.03, Reuters reported.\nAt home, all sectoral indices rose on Monday. Mining and oil increased by 219.87 points or 2.28% to 9,853.38; industrials went up by 84.89 points or 0.97% to 8,831.16; financials jumped by 16.37 points or 0.94% to 1,751.78; holding firms advanced by 30.85 points or 0.52% to 5,949.05; services climbed by 3.65 points or 0.24% to 1,523.86; and property rose by 5.67 points or 0.2% to 2,751.52.\nDecliners outnumbered advancers, 91 versus 83, while 46 names closed unchanged.\nNet foreign buying declined to P287.54 million on Monday from P1.38 billion on Friday. \u2014 S.J. Talavera with Reuters", "date_published": "2023-12-04T21:00:04+08:00", "date_modified": "2023-12-04T18:59:03+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-720p-9.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=561093", "url": "https://www.bworldonline.com/stock-market/2023/12/03/561093/psei-may-rise-on-expectations-of-slower-inflation/", "title": "PSEi may rise on expectations of slower inflation", "content_html": "PHILIPPINE STOCKS may rise this shortened trading week, with the release of November inflation data expected to be a major catalyst for the market.
\nThe Philippine Stock Exchange index (PSEi) went up by 21.45 points or 0.34% to close at 6,245.18 on Friday, while the broader all shares index climbed by 4.39 points or 0.13% to end at 3,332.22.
\nWeek on week, the PSEi dropped by 24.32 points or 0.39% from its close of 6,269.50 on Nov. 24.
\n\u201cA growing number of investors are piecing together a picture of a potentially good December for stocks. That narrative will be tested this week as the market turns its focus to the Philippine November inflation print and October US jobs data,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.
\n\u201cThe upcoming week will be another four-day trading week, but the release of November inflation data early on should help spark some excitement before discussion once again moves to monetary policy talks mid-December,\u201d online brokerage 2TradeAsia.com said in a report.
\nThe market will be closed on Friday for a holiday in commemoration of the Feast of the Immaculate Conception.
\nNovember consumer price index (CPI) data will be released on Tuesday. A BusinessWorld poll of 15 analysts yielded a median estimate of 4.4% for November headline inflation, at the midpoint of the 4-4.8% forecast of the Bangko Sentral ng Pilipinas (BSP) for the month.
\nIf realized, November CPI would be slower than the 4.9% print in October and the 8% logged in the same month last year.
\nHowever, November would also mark the 20th straight month that inflation exceeded BSP\u2019s 2-4% annual target.
\nThe Monetary Board will hold its final policy meeting for the year on Dec. 14.
\nThe BSP has raised borrowing costs by 450 basis points since May 2022 to help bring down inflation, with its policy rate now at a 16-year high of 6.5%.
\nThe strong factory activity report released on Friday is also expected to boost sentiment when trading starts this week, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.
\nThe S&P Global Philippines Manufacturing Purchasing Managers\u2019 Index (PMI) rose to 52.7 in November from 52.4 in October amid robust demand and growth in new orders and production, a report released on Friday showed.
\nA PMI reading above the 50 mark denotes an improvement in operating conditions, while a reading below 50 signals deterioration.
\nFor this week, 2TradeAsia.com placed the PSEi\u2019s support at 6,100-6,150 and resistance at 6,400.
\n\u201cMajor support is still seen at 6,000 while major resistance is seen at 6,400,\u201d Mr. Tantiangco said.
\n\u201cThe market may see continued consolidation in the 6,200 area and could potentially make an attempt for 6,380 in case of positive news flows,\u201d Mr. Colet added. \u2014 S.J. Talavera
\n", "content_text": "PHILIPPINE STOCKS may rise this shortened trading week, with the release of November inflation data expected to be a major catalyst for the market.\nThe Philippine Stock Exchange index (PSEi) went up by 21.45 points or 0.34% to close at 6,245.18 on Friday, while the broader all shares index climbed by 4.39 points or 0.13% to end at 3,332.22.\nWeek on week, the PSEi dropped by 24.32 points or 0.39% from its close of 6,269.50 on Nov. 24.\n\u201cA growing number of investors are piecing together a picture of a potentially good December for stocks. That narrative will be tested this week as the market turns its focus to the Philippine November inflation print and October US jobs data,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.\n\u201cThe upcoming week will be another four-day trading week, but the release of November inflation data early on should help spark some excitement before discussion once again moves to monetary policy talks mid-December,\u201d online brokerage 2TradeAsia.com said in a report.\nThe market will be closed on Friday for a holiday in commemoration of the Feast of the Immaculate Conception.\nNovember consumer price index (CPI) data will be released on Tuesday. A BusinessWorld poll of 15 analysts yielded a median estimate of 4.4% for November headline inflation, at the midpoint of the 4-4.8% forecast of the Bangko Sentral ng Pilipinas (BSP) for the month.\nIf realized, November CPI would be slower than the 4.9% print in October and the 8% logged in the same month last year.\nHowever, November would also mark the 20th straight month that inflation exceeded BSP\u2019s 2-4% annual target.\nThe Monetary Board will hold its final policy meeting for the year on Dec. 14.\nThe BSP has raised borrowing costs by 450 basis points since May 2022 to help bring down inflation, with its policy rate now at a 16-year high of 6.5%.\nThe strong factory activity report released on Friday is also expected to boost sentiment when trading starts this week, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.\nThe S&P Global Philippines Manufacturing Purchasing Managers\u2019 Index (PMI) rose to 52.7 in November from 52.4 in October amid robust demand and growth in new orders and production, a report released on Friday showed.\nA PMI reading above the 50 mark denotes an improvement in operating conditions, while a reading below 50 signals deterioration.\nFor this week, 2TradeAsia.com placed the PSEi\u2019s support at 6,100-6,150 and resistance at 6,400.\n\u201cMajor support is still seen at 6,000 while major resistance is seen at 6,400,\u201d Mr. Tantiangco said.\n\u201cThe market may see continued consolidation in the 6,200 area and could potentially make an attempt for 6,380 in case of positive news flows,\u201d Mr. Colet added. \u2014 S.J. Talavera", "date_published": "2023-12-03T21:00:44+08:00", "date_modified": "2023-12-03T16:21:13+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/06/PSE-BGC.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=560791", "url": "https://www.bworldonline.com/stock-market/2023/11/30/560791/phl-stocks-drop-further-amid-msci-rebalancing/", "title": "PHL stocks drop further amid MSCI rebalancing", "content_html": "PHILIPPINE STOCKS closed the month lower due to continued profit taking and window dressing, and amid the last day of the Morgan Stanley Capital International (MSCI) rebalancing.
\nThe Philippine Stock Exchange index (PSEi) retreated by 41.41 points or 0.66% to close at 6,223.73 on Thursday, while the broader all shares index fell by 11.85 points or 0.35% to finish at 3,327.83.
\n\u201cThe local market gapped down at the open and saw continuing weakness for the day given continued profit-taking activities amidst the last day of MSCI rebalancing and possible month-end window dressing,\u201d China Bank Securities Corp. Research Associate Lance U. Soledad said in an e-mail.
\n\u201cMoreover, buying appetite may have also remained tepid ahead of the release of October US personal consumption expenditure price index data later tonight,\u201d he added.
\nThe PSEi ended lower on Thursday as investors tweaked their portfolios amid the MSCI rebalancing, Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.
\n\u201cOil prices ascended after investors shifted their focus to the OPEC+ meeting aimed at determining output policy,\u201d Mr. Limlingan added. OPEC+ or the Organization of the Petroleum Exporting Countries and their allies including Russia were set to hold an online ministerial meeting overnight.
\nOil prices traded steadily after rising more than $1 on Wednesday ahead of expected production cuts by the OPEC+ group, Reuters reported.
\nUS crude pared losses to gain 0.23% to $78.04 per barrel and Brent was down 0.18% at $82.95.
\n\u201cThis Thursday, the local market dropped… as investors continued with their profit taking. Concerns over China\u2019s economy, which is one of the Philippines\u2019 major trading partners, also weighed on sentiment. This came following its November official manufacturing PMI (purchasing managers\u2019 index) data, which stood at 49.4, indicating a contraction, and its non-manufacturing PMI which registered 50.2, declining from the prior month\u2019s 50.6,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.
\nThe majority of sectoral indices closed lower on Thursday. Holding firms declined by 95.49 points or 1.59% to 5,910.80; industrials dropped by 75.73 points or 0.86% to 8,688.02; mining and oil fell by 73.56 points or 0.75% to 9,667.60; and services went down by 9.68 points or 0.63% to 1,515.44.
\nOn the other hand, property climbed by 28.98 points or 1.07% to 2,723.03 and financials rose by 0.22 point or 0.01% to 1,742.53.
\nValue turnover rose to P7.9 billion on Thursday with 396.25 million shares changing hands from the P5.75 billion with 449.96 million issues traded the previous day.
\nDecliners outnumbered advancers, 89 compared to 79, while 49 names ended unchanged.
\nNet foreign selling stood at P320.3 million on Thursday, versus the P202.33 million in net buying seen on Wednesday. \u2014 R.M.D. Ochave with Reuters
\n", "content_text": "PHILIPPINE STOCKS closed the month lower due to continued profit taking and window dressing, and amid the last day of the Morgan Stanley Capital International (MSCI) rebalancing.\nThe Philippine Stock Exchange index (PSEi) retreated by 41.41 points or 0.66% to close at 6,223.73 on Thursday, while the broader all shares index fell by 11.85 points or 0.35% to finish at 3,327.83.\n\u201cThe local market gapped down at the open and saw continuing weakness for the day given continued profit-taking activities amidst the last day of MSCI rebalancing and possible month-end window dressing,\u201d China Bank Securities Corp. Research Associate Lance U. Soledad said in an e-mail.\n\u201cMoreover, buying appetite may have also remained tepid ahead of the release of October US personal consumption expenditure price index data later tonight,\u201d he added.\nThe PSEi ended lower on Thursday as investors tweaked their portfolios amid the MSCI rebalancing, Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.\n\u201cOil prices ascended after investors shifted their focus to the OPEC+ meeting aimed at determining output policy,\u201d Mr. Limlingan added. OPEC+ or the Organization of the Petroleum Exporting Countries and their allies including Russia were set to hold an online ministerial meeting overnight.\nOil prices traded steadily after rising more than $1 on Wednesday ahead of expected production cuts by the OPEC+ group, Reuters reported.\nUS crude pared losses to gain 0.23% to $78.04 per barrel and Brent was down 0.18% at $82.95.\n\u201cThis Thursday, the local market dropped… as investors continued with their profit taking. Concerns over China\u2019s economy, which is one of the Philippines\u2019 major trading partners, also weighed on sentiment. This came following its November official manufacturing PMI (purchasing managers\u2019 index) data, which stood at 49.4, indicating a contraction, and its non-manufacturing PMI which registered 50.2, declining from the prior month\u2019s 50.6,\u201d Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.\nThe majority of sectoral indices closed lower on Thursday. Holding firms declined by 95.49 points or 1.59% to 5,910.80; industrials dropped by 75.73 points or 0.86% to 8,688.02; mining and oil fell by 73.56 points or 0.75% to 9,667.60; and services went down by 9.68 points or 0.63% to 1,515.44.\nOn the other hand, property climbed by 28.98 points or 1.07% to 2,723.03 and financials rose by 0.22 point or 0.01% to 1,742.53.\nValue turnover rose to P7.9 billion on Thursday with 396.25 million shares changing hands from the P5.75 billion with 449.96 million issues traded the previous day.\nDecliners outnumbered advancers, 89 compared to 79, while 49 names ended unchanged.\nNet foreign selling stood at P320.3 million on Thursday, versus the P202.33 million in net buying seen on Wednesday. \u2014 R.M.D. Ochave with Reuters", "date_published": "2023-11-30T21:00:50+08:00", "date_modified": "2023-12-01T01:00:41+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/rgentribirthfurd/", "avatar": "https://secure.gravatar.com/avatar/67e0d160ec455979f75e504cb026950a?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/rgentribirthfurd/", "avatar": "https://secure.gravatar.com/avatar/67e0d160ec455979f75e504cb026950a?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/09/PSE.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=560466", "url": "https://www.bworldonline.com/stock-market/2023/11/29/560466/local-shares-retreat-as-investors-pocket-profits/", "title": "Local shares retreat as investors pocket profits", "content_html": "PHILIPPINE SHARES declined on Wednesday as investors pocketed their gains from the market\u2019s strong performance recently.
\nThe Philippine Stock Exchange index (PSEi) retreated by 44.43 points or 0.7% to finish at 6,265.14 on Wednesday, while the broader all shares index fell by 19.02 points or 0.56% to close at 3,339.68.\u00a0
\n\u201cThe market is down on profit taking after the recent multi-week rally and ahead of the Morgan Stanley Capital International (MSCI) rebalancing implementation by month-end,\u201d First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message.\u00a0
\n\u201cThe local bourse dropped by 44.43 points to 6,265.14 as investors took some gains after two consecutive days of market rally,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar likewise said in a Viber message.
\nBets on the US Federal Reserve\u2019s next policy mood also affected trading, she added.
\n\u201cOverseas, sentiment was further weighed down by Fed Governor Michelle Bowman\u2019s statement that more rate hikes may be necessary to keep policy sufficiently restrictive to bring inflation down to the 2% target,\u201d Ms. Alviar said.
\nFed Governor Michelle Bowman said the central bank will likely need to raise borrowing costs further in order to bring inflation back down to its target, Reuters reported.
\nMeanwhile, Fed Governor Christopher Waller flagged the possibility of lowering the Fed policy rate in the months ahead if inflation continues to come down. Mr. Waller also said he was \u201cincreasingly confident\u201d the current interest rate setting would prove adequate to lower inflation to the Fed\u2019s 2% target.
\nThe Fed this month kept its target rate at the 5.25%-5.5% range for the second consecutive meeting.
\nIt will hold its last review for the year on Dec. 12-13.
\nBack home, the majority of sectoral indices ended in the red on Wednesday. Property declined by 86.13 points or 3.09% to 2,694.05; industrials dropped by 44.44 points or 0.5% to 8,763.75; financials decreased by 3.94 points or 0.22% to 1,742.31; and holding firms went down by 1.33 points or 0.02% to 6,006.29.
\n\u201cThe property sector had the largest loss, dropping by 3.10%, largely influenced by the 4.27% decline of SM Prime Holdings, Inc. Meanwhile, San Miguel Corp. was at the top, increasing by 1.89%,\u201d Philstocks Financial\u2019s Ms. Alviar said.\u00a0
\nOn the other hand, mining and oil rose by 60.19 points or 0.62% to 9,741.16 and services went up by 4.04 points or 0.26% to 1,525.12.\u00a0
\nValue turnover went up to P5.75 billion on Wednesday with 449.96 million shares changing hands from the P5.34 billion with 382.74 million issues traded the previous day.
\nDecliners outnumbered advancers, 106 against 70, while 34 names closed unchanged.
\nNet foreign buying dropped to P202.33 million on Wednesday from P670.36 million on Tuesday. \u2014 RMDO with Reuters
\n", "content_text": "PHILIPPINE SHARES declined on Wednesday as investors pocketed their gains from the market\u2019s strong performance recently.\nThe Philippine Stock Exchange index (PSEi) retreated by 44.43 points or 0.7% to finish at 6,265.14 on Wednesday, while the broader all shares index fell by 19.02 points or 0.56% to close at 3,339.68.\u00a0\n\u201cThe market is down on profit taking after the recent multi-week rally and ahead of the Morgan Stanley Capital International (MSCI) rebalancing implementation by month-end,\u201d First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message.\u00a0\n\u201cThe local bourse dropped by 44.43 points to 6,265.14 as investors took some gains after two consecutive days of market rally,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar likewise said in a Viber message.\nBets on the US Federal Reserve\u2019s next policy mood also affected trading, she added.\n\u201cOverseas, sentiment was further weighed down by Fed Governor Michelle Bowman\u2019s statement that more rate hikes may be necessary to keep policy sufficiently restrictive to bring inflation down to the 2% target,\u201d Ms. Alviar said.\nFed Governor Michelle Bowman said the central bank will likely need to raise borrowing costs further in order to bring inflation back down to its target, Reuters reported.\nMeanwhile, Fed Governor Christopher Waller flagged the possibility of lowering the Fed policy rate in the months ahead if inflation continues to come down. Mr. Waller also said he was \u201cincreasingly confident\u201d the current interest rate setting would prove adequate to lower inflation to the Fed\u2019s 2% target.\nThe Fed this month kept its target rate at the 5.25%-5.5% range for the second consecutive meeting. \nIt will hold its last review for the year on Dec. 12-13.\nBack home, the majority of sectoral indices ended in the red on Wednesday. Property declined by 86.13 points or 3.09% to 2,694.05; industrials dropped by 44.44 points or 0.5% to 8,763.75; financials decreased by 3.94 points or 0.22% to 1,742.31; and holding firms went down by 1.33 points or 0.02% to 6,006.29.\n\u201cThe property sector had the largest loss, dropping by 3.10%, largely influenced by the 4.27% decline of SM Prime Holdings, Inc. Meanwhile, San Miguel Corp. was at the top, increasing by 1.89%,\u201d Philstocks Financial\u2019s Ms. Alviar said.\u00a0\nOn the other hand, mining and oil rose by 60.19 points or 0.62% to 9,741.16 and services went up by 4.04 points or 0.26% to 1,525.12.\u00a0\nValue turnover went up to P5.75 billion on Wednesday with 449.96 million shares changing hands from the P5.34 billion with 382.74 million issues traded the previous day.\nDecliners outnumbered advancers, 106 against 70, while 34 names closed unchanged.\nNet foreign buying dropped to P202.33 million on Wednesday from P670.36 million on Tuesday. \u2014 RMDO with Reuters", "date_published": "2023-11-29T21:00:43+08:00", "date_modified": "2023-11-29T18:57:43+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/10/PSE-bell.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=560272", "url": "https://www.bworldonline.com/stock-market/2023/11/28/560272/stocks-up-on-easing-oil-prices-window-dressing/", "title": "Stocks up on easing oil prices, window dressing", "content_html": "LOCAL SHARES closed higher on Tuesday as investor sentiment was buoyed by easing global oil prices and window dressing before the end of the month.
\nThe benchmark Philippine Stock Exchange index rose by 40.07 points or 0.63% to end at 6,309.57, while the broader all shares climbed by 10.48 points or 0.31% to close at 3,358.70.
\n\u201cPhilippine shares continued their upward momentum, making a challenge towards the 6,400 level, as investors gear up for the last month and prepare for some window dressing before November closes,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.\u00a0
\nThe local bourse ended in positive territory amid easing global oil prices, Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.
\n\u201cThe local bourse gained by 40.07 points to 6,309.57 thanks to the easing of oil prices amid the temporary truce between Israel and Hamas, coupled with the potential cut in oil supply by OPEC+ (Organization of the Petroleum Exporting Countries and its allies),\u201d Ms. Alviar said.\u00a0 \u00a0
\n\u201cEasing oil prices could support the growth of the Philippines, especially in the last quarter of the year,\u201d she added.
\nOPEC+, which includes OPEC countries and other countries such as Russia, is scheduled to have an online ministerial meeting on Thursday to discuss production targets for next year.
\nOn Tuesday, US crude eased 0.13% to $74.76 per barrel and Brent was back below $80, with oil prices swaying between gains and losses ahead of OPEC+ meeting later this week, Reuters reported.
\nAt home, as of Tuesday, year-to-date price adjustments stood at P12.30 per liter for gasoline, P6.00 per liter for diesel, and P1.74 per liter for kerosene.
\nThe majority of the sectoral indices closed higher on Tuesday. Property increased by 90.30 points or 3.35% to 2,780.18; holding firms went up by 31.34 points or 0.52% to 6,007.62; mining and oil climbed by 20.67 points or 0.21% to 9,680.97; and financials rose by 0.53 point or 0.03% to 1,746.25.\u00a0
\nMeanwhile, industrials declined by 118.13 points or 1.32% to 8,808.19, and services inched down by 0.21 point or 0.01% to 1,521.08.\u00a0
\n\u201cThe property sector surged the most, advancing by 3.36%, largely influenced by the 4.46% gain of SM Prime Holdings, Inc. and the 3.68% increase of Ayala Land, Inc., positioning them at the top among the index members. Meanwhile, Universal Robina Corp. was at the bottom, losing by 3.39%,\u201d Ms. Alviar said.
\nValue turnover rose to P5.34 billion on Tuesday with 382.74 million issues changing hands from the P2.68 billion with 445.73 million issues recorded on Friday.
\nDecliners beat advancers, 106 to 79, while 39 names ended unchanged.\u00a0
\nNet foreign buying reached P670.36 million on Tuesday versus the P123.04 million in selling seen on Friday.
\nPhilippine financial markets were closed on Monday due to a public holiday for Bonifacio Day. \u2014 R.M.D. Ochave with Reuters
\n", "content_text": "LOCAL SHARES closed higher on Tuesday as investor sentiment was buoyed by easing global oil prices and window dressing before the end of the month.\nThe benchmark Philippine Stock Exchange index rose by 40.07 points or 0.63% to end at 6,309.57, while the broader all shares climbed by 10.48 points or 0.31% to close at 3,358.70.\n\u201cPhilippine shares continued their upward momentum, making a challenge towards the 6,400 level, as investors gear up for the last month and prepare for some window dressing before November closes,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.\u00a0\nThe local bourse ended in positive territory amid easing global oil prices, Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\n\u201cThe local bourse gained by 40.07 points to 6,309.57 thanks to the easing of oil prices amid the temporary truce between Israel and Hamas, coupled with the potential cut in oil supply by OPEC+ (Organization of the Petroleum Exporting Countries and its allies),\u201d Ms. Alviar said.\u00a0 \u00a0\n\u201cEasing oil prices could support the growth of the Philippines, especially in the last quarter of the year,\u201d she added.\nOPEC+, which includes OPEC countries and other countries such as Russia, is scheduled to have an online ministerial meeting on Thursday to discuss production targets for next year.\nOn Tuesday, US crude eased 0.13% to $74.76 per barrel and Brent was back below $80, with oil prices swaying between gains and losses ahead of OPEC+ meeting later this week, Reuters reported.\nAt home, as of Tuesday, year-to-date price adjustments stood at P12.30 per liter for gasoline, P6.00 per liter for diesel, and P1.74 per liter for kerosene.\nThe majority of the sectoral indices closed higher on Tuesday. Property increased by 90.30 points or 3.35% to 2,780.18; holding firms went up by 31.34 points or 0.52% to 6,007.62; mining and oil climbed by 20.67 points or 0.21% to 9,680.97; and financials rose by 0.53 point or 0.03% to 1,746.25.\u00a0\nMeanwhile, industrials declined by 118.13 points or 1.32% to 8,808.19, and services inched down by 0.21 point or 0.01% to 1,521.08.\u00a0\n\u201cThe property sector surged the most, advancing by 3.36%, largely influenced by the 4.46% gain of SM Prime Holdings, Inc. and the 3.68% increase of Ayala Land, Inc., positioning them at the top among the index members. Meanwhile, Universal Robina Corp. was at the bottom, losing by 3.39%,\u201d Ms. Alviar said.\nValue turnover rose to P5.34 billion on Tuesday with 382.74 million issues changing hands from the P2.68 billion with 445.73 million issues recorded on Friday.\nDecliners beat advancers, 106 to 79, while 39 names ended unchanged.\u00a0\nNet foreign buying reached P670.36 million on Tuesday versus the P123.04 million in selling seen on Friday.\nPhilippine financial markets were closed on Monday due to a public holiday for Bonifacio Day. \u2014 R.M.D. Ochave with Reuters", "date_published": "2023-11-28T21:00:09+08:00", "date_modified": "2023-11-28T18:40:04+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/12/PSEPSE-Trading-Floor-090920-5.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=559918", "url": "https://www.bworldonline.com/stock-market/2023/11/27/559918/shares-may-go-down-on-profit-taking-rate-bets/", "title": "Shares may go down on profit taking, rate bets", "content_html": "THE Philippine stock market could succumb to profit taking this shortened trading week following its recent rally and amid expectations that interest rates here and abroad will remain high in the near term.
\nOn Friday, the 30-member Philippine Stock Exchange index (PSEi) rose by 23.30 points or 0.37% to close at 6,269.50, while the all shares index went up by 20.21 points or 0.6% to 3,348.22.
\nWeek on week, the PSEi climbed by 57.61 points or 0.93% from its 6,211.89 close on Nov. 17.
\n\u201cSlight gains amidst anemic turnover characterized [last] week\u2019s trade in light of Thanksgiving holiday plus ahead of a shortened trading week,\u201d online brokerage 2TradeAsia.com said in a market report.
\nPhilippine financial markets were closed on Monday due to a public holiday for Bonifacio Day.
\nFor the coming days, the market may decline anew as investors could pocket their profits after the PSEi recorded gains in three out of five trading days last week, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.
\n\u201cExpectations that interest rates will remain high for a while following Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr.\u2019s hawkish statements … may also weigh on the market,\u201d Mr. Tantiangco said.\u00a0 \u00a0
\n\u201cThe local market has been building momentum lately, rising for four weeks with a total gain of 5.16%. However, trading has been lethargic, implying that the market\u2019s current rally is not backed by strong investor participation,\u201d he added.\u00a0
\nBSP Governor Eli M. Remolona, Jr. on Friday said their policy stance will remain \u201chawkish for a while,\u201d reiterating that the Monetary Board could still resume tightening to keep inflation expectations anchored.
\nAt its Nov. 16 meeting, the BSP kept its policy rate at a 16-year high of 6.5% amid easing inflation following an off-cycle hike of 25 basis points (bps) last month.
\nThe Monetary Board has raised borrowing costs by 450 bps since it began its tightening cycle in May 2022.
\nIt will hold its last policy review for this year on Dec. 14.
\nMeanwhile, the Fed kept its benchmark interest rate steady at the 5.25%-5.5% range for a second straight time during their Oct. 31-Nov. 1 meeting. It has hiked rates by 525 bps since it began its tightening cycle in March 2022.
\nThe Federal Open Market Committee will next meet on Dec.\u00a012-13 to review policy.
\n\u201c[This] week, investors are expected to watch out for catalysts that can spur optimism towards the local economy. Without such, we may see selling pressures dominate leading to a pull back for the local bourse,\u201d Mr. Tantiangco added. \u201cChart-wise, the market\u2019s immediate support is seen at its 50-day exponential moving average. Resistance is seen at the 6,400 level.\u201d
\nMeanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort put the PSEi\u2019s immediate major resistance at the 6,300 level and immediate major support at 6,055-6,100.
\nFor its part, 2TradeAsia.com placed the PSEi\u2019s support at 6,100 and resistance at 6,400. \u2014 RMDO
\n", "content_text": "THE Philippine stock market could succumb to profit taking this shortened trading week following its recent rally and amid expectations that interest rates here and abroad will remain high in the near term.\nOn Friday, the 30-member Philippine Stock Exchange index (PSEi) rose by 23.30 points or 0.37% to close at 6,269.50, while the all shares index went up by 20.21 points or 0.6% to 3,348.22.\nWeek on week, the PSEi climbed by 57.61 points or 0.93% from its 6,211.89 close on Nov. 17.\n\u201cSlight gains amidst anemic turnover characterized [last] week\u2019s trade in light of Thanksgiving holiday plus ahead of a shortened trading week,\u201d online brokerage 2TradeAsia.com said in a market report.\nPhilippine financial markets were closed on Monday due to a public holiday for Bonifacio Day.\nFor the coming days, the market may decline anew as investors could pocket their profits after the PSEi recorded gains in three out of five trading days last week, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.\n\u201cExpectations that interest rates will remain high for a while following Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr.\u2019s hawkish statements … may also weigh on the market,\u201d Mr. Tantiangco said.\u00a0 \u00a0\n\u201cThe local market has been building momentum lately, rising for four weeks with a total gain of 5.16%. However, trading has been lethargic, implying that the market\u2019s current rally is not backed by strong investor participation,\u201d he added.\u00a0\nBSP Governor Eli M. Remolona, Jr. on Friday said their policy stance will remain \u201chawkish for a while,\u201d reiterating that the Monetary Board could still resume tightening to keep inflation expectations anchored.\nAt its Nov. 16 meeting, the BSP kept its policy rate at a 16-year high of 6.5% amid easing inflation following an off-cycle hike of 25 basis points (bps) last month.\nThe Monetary Board has raised borrowing costs by 450 bps since it began its tightening cycle in May 2022.\nIt will hold its last policy review for this year on Dec. 14.\nMeanwhile, the Fed kept its benchmark interest rate steady at the 5.25%-5.5% range for a second straight time during their Oct. 31-Nov. 1 meeting. It has hiked rates by 525 bps since it began its tightening cycle in March 2022.\nThe Federal Open Market Committee will next meet on Dec.\u00a012-13 to review policy.\n\u201c[This] week, investors are expected to watch out for catalysts that can spur optimism towards the local economy. Without such, we may see selling pressures dominate leading to a pull back for the local bourse,\u201d Mr. Tantiangco added. \u201cChart-wise, the market\u2019s immediate support is seen at its 50-day exponential moving average. Resistance is seen at the 6,400 level.\u201d\nMeanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort put the PSEi\u2019s immediate major resistance at the 6,300 level and immediate major support at 6,055-6,100.\nFor its part, 2TradeAsia.com placed the PSEi\u2019s support at 6,100 and resistance at 6,400. \u2014 RMDO", "date_published": "2023-11-27T21:00:04+08:00", "date_modified": "2023-11-27T16:53:18+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-720p-6.jpg", "tags": [ "Featured2", "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=559705", "url": "https://www.bworldonline.com/stock-market/2023/11/26/559705/local-stocks-climb-on-pesos-rise-auto-sales-data/", "title": "Local stocks climb on peso\u2019s rise, auto sales data", "content_html": "PHILIPPINE SHARES closed higher on Friday as the peso sustained its strength against the dollar last week, and amid data showing higher vehicle sales for October that signaled stronger economic activity.
\nThe Philippine Stock Exchange index (PSEi) climbed by 23.30 points or 0.37% to close at 6,269.50 on Friday, while the broader all shares index rose by 20.21 points or 0.6% to finish at 3,348.22.
\n\u201cThe local bourse gained by 23.30 points to 6,269.50, thanks to the strengthened peso against the dollar. This positive momentum was further fueled by robust auto sales in October, indicating resilient consumer demand despite high inflation and elevated interest rates,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.
\nOn Friday, the peso closed at P55.38 versus the dollar, rising by a centavo from Thursday\u2019s P55.39 finish, data from the Bankers Association of the Philippines\u2019 website showed.
\nThis was the peso\u2019s strongest close against the greenback in more than three months or since the P55.19-a-dollar finish on Aug. 2.
\nMeanwhile, a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) released last week showed new vehicle sales increased to 38,128 units in October from 32,146 units in the same month a year ago.
\nHowever, car sales declined by 1.3% from 38,628 units sold in September amid elevated inflation.
\nFor the first 10 months, CAMPI-TMA members sold 352,971 units, up by 25.9% from 280,300 units a year ago.
\n\u201cOverseas, the temporary pause in the conflict between Israel and Hamas also contributed to a more optimistic market sentiment,\u201d Ms. Alviar added.
\n\u201cPhilippine shares traded quietly, [but investors] became bargain hunters as investors were optimistic that the US economy would get a boost following Black Friday,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
\nBack home, sectoral indices were mixed at the end of Friday\u2019s trading. Property climbed by 31.36 points or 1.18% to 2,689.88; services went up by 9.66 points or 0.63% to 1,521.29; and holding firms rose by 28.58 points or 0.48% to 5,976.28.\u00a0
\nOn the other hand, industrials fell by 21.17 points or 0.23% to 8,926.32; financials retreated by 1.44 points or 0.08% to 1,745.72; and mining and oil declined by 5.39 points or 0.05% to 9,660.30.
\nValue turnover reached P2.68 billion on Friday with 445.73 million issues switching hands, higher than the P2.33 billion with 453.55 million shares traded the previous day.\u00a0
\nDecliners outnumbered advancers, 94 versus 78, while 51 names ended unchanged.
\nNet foreign selling stood at P123.04 million on Friday versus the net buying worth P85.63 million net foreign inflows recorded on Thursday.\u00a0
\nPhilippine financial markets are closed on Monday due to a public holiday for Bonifacio Day. \u2014 R.M.D. Ochave
\n", "content_text": "PHILIPPINE SHARES closed higher on Friday as the peso sustained its strength against the dollar last week, and amid data showing higher vehicle sales for October that signaled stronger economic activity.\nThe Philippine Stock Exchange index (PSEi) climbed by 23.30 points or 0.37% to close at 6,269.50 on Friday, while the broader all shares index rose by 20.21 points or 0.6% to finish at 3,348.22.\n\u201cThe local bourse gained by 23.30 points to 6,269.50, thanks to the strengthened peso against the dollar. This positive momentum was further fueled by robust auto sales in October, indicating resilient consumer demand despite high inflation and elevated interest rates,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\nOn Friday, the peso closed at P55.38 versus the dollar, rising by a centavo from Thursday\u2019s P55.39 finish, data from the Bankers Association of the Philippines\u2019 website showed. \nThis was the peso\u2019s strongest close against the greenback in more than three months or since the P55.19-a-dollar finish on Aug. 2.\nMeanwhile, a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) released last week showed new vehicle sales increased to 38,128 units in October from 32,146 units in the same month a year ago.\nHowever, car sales declined by 1.3% from 38,628 units sold in September amid elevated inflation.\nFor the first 10 months, CAMPI-TMA members sold 352,971 units, up by 25.9% from 280,300 units a year ago.\n\u201cOverseas, the temporary pause in the conflict between Israel and Hamas also contributed to a more optimistic market sentiment,\u201d Ms. Alviar added.\n\u201cPhilippine shares traded quietly, [but investors] became bargain hunters as investors were optimistic that the US economy would get a boost following Black Friday,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.\nBack home, sectoral indices were mixed at the end of Friday\u2019s trading. Property climbed by 31.36 points or 1.18% to 2,689.88; services went up by 9.66 points or 0.63% to 1,521.29; and holding firms rose by 28.58 points or 0.48% to 5,976.28.\u00a0\nOn the other hand, industrials fell by 21.17 points or 0.23% to 8,926.32; financials retreated by 1.44 points or 0.08% to 1,745.72; and mining and oil declined by 5.39 points or 0.05% to 9,660.30.\nValue turnover reached P2.68 billion on Friday with 445.73 million issues switching hands, higher than the P2.33 billion with 453.55 million shares traded the previous day.\u00a0\nDecliners outnumbered advancers, 94 versus 78, while 51 names ended unchanged.\nNet foreign selling stood at P123.04 million on Friday versus the net buying worth P85.63 million net foreign inflows recorded on Thursday.\u00a0\nPhilippine financial markets are closed on Monday due to a public holiday for Bonifacio Day. \u2014 R.M.D. Ochave", "date_published": "2023-11-26T21:00:10+08:00", "date_modified": "2023-11-26T16:25:43+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2022/07/PSE-trading-floor-traders.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=559353", "url": "https://www.bworldonline.com/stock-market/2023/11/23/559353/pse-index-snaps-two-day-climb-on-profit-taking/", "title": "PSE index snaps two-day climb on profit taking", "content_html": "LOCAL STOCKS declined and snapped their two-day rise on Thursday as investors pocketed their gains amid a lack of trading drivers.
\nThe Philippine Stock Exchange index (PSEi) went down by 6.98 points or 0.11% to close at 6,246.20, while the broader all shares decreased by 2.03 points or 0.06% to finish at 3,328.01.
\nThe local bourse closed weaker due to profit taking, Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.
\n\u201cThis Thursday, the local market dropped by 6.98 points (0.11%) to 6,246.20 as the lack of a positive catalyst caused investors to take profits. The bourse made gains intraday, rising to 6,259.66 before sellers prevailed,\u201d Mr. Plopenio said.\u00a0
\n\u201cAlso, the lack of a positive catalysts, together with ongoing economic concerns both at home and offshore, caused many to remain on the sidelines,\u201d he added.
\nThe local bourse dropped amid bets on the US Federal Reserve\u2019s next move, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
\n\u201cThe PSEi corrected slightly lower after rising for two straight days on some profit-taking activities, locking in some gains ahead of the US Thanksgiving Holiday and also after the latest Fed minutes that hinted the need to proceed carefully in Fed rate decision, especially in ensuring the achievement of the inflation target,\u201d Mr. Ricafort said.
\nUS Federal Reserve officials agreed at their last policy meeting that they would proceed \u201ccarefully\u201d and only raise interest rates if progress in controlling inflation faltered, the minutes of the Oct. 31-Nov. 1 gathering showed on Tuesday, Reuters reported.
\nInflation has been slowing \u2014 consumer prices did not rise at all on a month-to-month basis in October \u2014 and while the Fed has not declared its fight against rapid price increases over, the tenor of the discussion has been shifting towards a focus on how long to keep the policy rate in the current 5.25%-5.5% range.
\nAt home, sectoral indices were split on Thursday. Services retreated by 9.96 points or 0.65% to 1,511.63; holding firms declined by 19.92 points or 0.33% to 5,947.70; and financials went down by 4.60 points or 0.26% to 1,747.16.
\nOn the other hand, property rose by 11.16 points or 0.42% to 2,658.52; mining and oil climbed by 38.71 points or 0.4% to 9,665.69; and industrials went up by 34.46 points or 0.38% to 8,947.49.\u00a0
\n\u201cAmong the index members, Monde Nissin Corp. was at the top, climbing 3.54% to P8.48. JG Summit Holdings, Inc. lost the most, dropping 1.94% to P37.90,\u201d Philstocks Financial\u2019s Mr. Plopenio said.
\nValue turnover went down to P2.33 billion on Thursday with 453.55 million shares switching hands, from the P4.01 billion with 296.08 million issues seen the previous trading day.
\nDecliners outnumbered advancers, 91 against 74, while 48 names ended unchanged.
\nNet foreign buying went down to P85.63 million on Thursday from P1.02 billion on Wednesday. \u2014 R.M.D. Ochave with Reuters
\n", "content_text": "LOCAL STOCKS declined and snapped their two-day rise on Thursday as investors pocketed their gains amid a lack of trading drivers.\nThe Philippine Stock Exchange index (PSEi) went down by 6.98 points or 0.11% to close at 6,246.20, while the broader all shares decreased by 2.03 points or 0.06% to finish at 3,328.01.\nThe local bourse closed weaker due to profit taking, Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.\n\u201cThis Thursday, the local market dropped by 6.98 points (0.11%) to 6,246.20 as the lack of a positive catalyst caused investors to take profits. The bourse made gains intraday, rising to 6,259.66 before sellers prevailed,\u201d Mr. Plopenio said.\u00a0\n\u201cAlso, the lack of a positive catalysts, together with ongoing economic concerns both at home and offshore, caused many to remain on the sidelines,\u201d he added.\nThe local bourse dropped amid bets on the US Federal Reserve\u2019s next move, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message. \n\u201cThe PSEi corrected slightly lower after rising for two straight days on some profit-taking activities, locking in some gains ahead of the US Thanksgiving Holiday and also after the latest Fed minutes that hinted the need to proceed carefully in Fed rate decision, especially in ensuring the achievement of the inflation target,\u201d Mr. Ricafort said.\nUS Federal Reserve officials agreed at their last policy meeting that they would proceed \u201ccarefully\u201d and only raise interest rates if progress in controlling inflation faltered, the minutes of the Oct. 31-Nov. 1 gathering showed on Tuesday, Reuters reported.\nInflation has been slowing \u2014 consumer prices did not rise at all on a month-to-month basis in October \u2014 and while the Fed has not declared its fight against rapid price increases over, the tenor of the discussion has been shifting towards a focus on how long to keep the policy rate in the current 5.25%-5.5% range.\nAt home, sectoral indices were split on Thursday. Services retreated by 9.96 points or 0.65% to 1,511.63; holding firms declined by 19.92 points or 0.33% to 5,947.70; and financials went down by 4.60 points or 0.26% to 1,747.16.\nOn the other hand, property rose by 11.16 points or 0.42% to 2,658.52; mining and oil climbed by 38.71 points or 0.4% to 9,665.69; and industrials went up by 34.46 points or 0.38% to 8,947.49.\u00a0\n\u201cAmong the index members, Monde Nissin Corp. was at the top, climbing 3.54% to P8.48. JG Summit Holdings, Inc. lost the most, dropping 1.94% to P37.90,\u201d Philstocks Financial\u2019s Mr. Plopenio said.\nValue turnover went down to P2.33 billion on Thursday with 453.55 million shares switching hands, from the P4.01 billion with 296.08 million issues seen the previous trading day.\nDecliners outnumbered advancers, 91 against 74, while 48 names ended unchanged.\nNet foreign buying went down to P85.63 million on Thursday from P1.02 billion on Wednesday. \u2014 R.M.D. Ochave with Reuters", "date_published": "2023-11-23T21:00:00+08:00", "date_modified": "2023-11-23T17:58:55+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/08/PSE-bell-1.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=559114", "url": "https://www.bworldonline.com/stock-market/2023/11/22/559114/shares-up-on-positive-sentiment-foreign-buying/", "title": "Shares up on positive sentiment, foreign buying", "content_html": "PHILIPPINE SHARES climbed on Wednesday amid an improved economic outlook and strong foreign buying.\u00a0
\nThe benchmark Philippine Stock Exchange index rose by 44.35 points or 0.71% to 6,253.18, while the broader all shares index increased by 15.44 points or 0.46% to 3,330.04.
\n\u201cThe local bourse gained by 44.35 points (0.71%) to 6,253.18, thanks to strong foreign buying, recording a net inflow of P1.02 billion. Moreover, Oxford Economics\u2019 upward adjustment of the Philippines\u2019 economic growth forecast from 4.5% to 5% helped lift the market,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\u00a0
\nOxford Economics recently said that it expects Philippine gross domestic product (GDP) to grow by 5% this year, faster than its previous projection of 4.5%.\u00a0
\nPhilippine GDP expanded 5.9% in the third quarter, faster than 4.3% in the second quarter but slower than 7.7% a year earlier.
\nFor the first nine months, economic growth averaged 5.5%, still below the government\u2019s 6-7% full-year target.
\nMeanwhile, net foreign buying ballooned to P1.02 billion on Wednesday from P120.35 million on Tuesday.\u00a0
\n\u201cThe local bourse has maintained its upward trajectory, still propelled by the recent positive developments in macroeconomic factors, including easing inflation in both the US and the Philippines, along with favorable third quarter earnings results,\u201d Unicapital Securities, Inc. Senior Equity Research Analyst Carlos Angelo O. Temporal said in a Viber message.\u00a0
\nPhilippine headline inflation fell to a three-month low of 4.9% in October from 6.1% in September. For the 10-month period, inflation averaged 6.4%.
\nMeanwhile, the US consumer price index (CPI) was unchanged in October for the first time in more than a year following a 0.4% rise in September. On an annual basis, the CPI rose by 3.2% after going up by 3.7% in September.
\nAll sectoral indices ended higher on Wednesday. Mining and oil surged by 180.65 points or 1.91% to 9,626.98; industrials went up by 152.29 points or 1.73% to 8,913.03; services climbed by 14.17 points or 0.94% to 1,521.59; holding firms rose by 27.88 points or 0.46% to 5,967.62; property improved by 6.80 points or 0.25% to end at 2,647.36; and financials increased by 0.34 point or 0.01% to 1,751.76.\u00a0
\n\u201cWithin the index members, consumer foods\u2019 stocks Universal Robina Corp. and Monde Nissin Corp. were at the top, gaining by 5.36% and 4.73%, respectively. However, Metropolitan Bank and Trust Co. had the biggest loss, dropping by 1.52%,\u201d Ms. Alviar said.
\nValue turnover reached P4.01 billion on Wednesday with 296.08 million issues switching hands, higher than the P3.91 billion with 422.56 million shares recorded the previous trading day.
\nAdvancers beat decliners, 93 versus 77, while 48 issues closed unchanged. \u2014 RMDO
\n", "content_text": "PHILIPPINE SHARES climbed on Wednesday amid an improved economic outlook and strong foreign buying.\u00a0\nThe benchmark Philippine Stock Exchange index rose by 44.35 points or 0.71% to 6,253.18, while the broader all shares index increased by 15.44 points or 0.46% to 3,330.04.\n\u201cThe local bourse gained by 44.35 points (0.71%) to 6,253.18, thanks to strong foreign buying, recording a net inflow of P1.02 billion. Moreover, Oxford Economics\u2019 upward adjustment of the Philippines\u2019 economic growth forecast from 4.5% to 5% helped lift the market,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.\u00a0\nOxford Economics recently said that it expects Philippine gross domestic product (GDP) to grow by 5% this year, faster than its previous projection of 4.5%.\u00a0\nPhilippine GDP expanded 5.9% in the third quarter, faster than 4.3% in the second quarter but slower than 7.7% a year earlier.\nFor the first nine months, economic growth averaged 5.5%, still below the government\u2019s 6-7% full-year target.\nMeanwhile, net foreign buying ballooned to P1.02 billion on Wednesday from P120.35 million on Tuesday.\u00a0\n\u201cThe local bourse has maintained its upward trajectory, still propelled by the recent positive developments in macroeconomic factors, including easing inflation in both the US and the Philippines, along with favorable third quarter earnings results,\u201d Unicapital Securities, Inc. Senior Equity Research Analyst Carlos Angelo O. Temporal said in a Viber message.\u00a0\nPhilippine headline inflation fell to a three-month low of 4.9% in October from 6.1% in September. For the 10-month period, inflation averaged 6.4%.\nMeanwhile, the US consumer price index (CPI) was unchanged in October for the first time in more than a year following a 0.4% rise in September. On an annual basis, the CPI rose by 3.2% after going up by 3.7% in September.\nAll sectoral indices ended higher on Wednesday. Mining and oil surged by 180.65 points or 1.91% to 9,626.98; industrials went up by 152.29 points or 1.73% to 8,913.03; services climbed by 14.17 points or 0.94% to 1,521.59; holding firms rose by 27.88 points or 0.46% to 5,967.62; property improved by 6.80 points or 0.25% to end at 2,647.36; and financials increased by 0.34 point or 0.01% to 1,751.76.\u00a0\n\u201cWithin the index members, consumer foods\u2019 stocks Universal Robina Corp. and Monde Nissin Corp. were at the top, gaining by 5.36% and 4.73%, respectively. However, Metropolitan Bank and Trust Co. had the biggest loss, dropping by 1.52%,\u201d Ms. Alviar said.\nValue turnover reached P4.01 billion on Wednesday with 296.08 million issues switching hands, higher than the P3.91 billion with 422.56 million shares recorded the previous trading day.\nAdvancers beat decliners, 93 versus 77, while 48 issues closed unchanged. \u2014 RMDO", "date_published": "2023-11-22T21:00:51+08:00", "date_modified": "2023-11-22T18:23:41+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2021/09/PSE-board.jpg", "tags": [ "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] }, { "id": "https://www.bworldonline.com/?p=558818", "url": "https://www.bworldonline.com/stock-market/2023/11/21/558818/psei-rebounds-after-wall-street-climb-bop-data/", "title": "PSEi rebounds after Wall Street climb, BoP data", "content_html": "PHILIPPINE SHARES rebounded on Tuesday as investors took cues from US markets\u2019 performance and the release of October external payments data.
\nThe Philippine Stock Exchange index climbed by 25.20 points or 0.4% to finish at 6,208.83 on Tuesday, while the broader all shares index increased by 9.28 points or 0.28% to close at 3,314.60.\u00a0
\n\u201cThe index returned above the 6,200 level as a relatively benign market environment, an overnight rally in US shares, and a favorable auction of 20-year US Treasuries spurred bargain hunting in local equities,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.\u00a0
\nWall Street\u2019s three major stock averages closed higher on Monday, with Nasdaq\u2019s 1% rally leading the charge, as heavyweight Microsoft hit a record high after it hired prominent artificial intelligence executives, Reuters reported.
\nThe Dow Jones Industrial Average rose 203.76 points or 0.58% to 35,151.04; the S&P 500 gained 33.36 points or 0.74% at 4,547.38; and the Nasdaq Composite added 159.05 points or 1.13% at 14,284.53.
\n\u201cThe local bourse gained… following the US markets overnight amid the signs of a slowdown in the US inflation. The positive sentiment was further fueled by the recorded surplus in the Philippines\u2019 balance of payments (BoP) in October, indicating potential support for the peso, which has been gaining strength recently against the US dollar,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar added in a Viber message.\u00a0
\nThe Philippines\u2019 country\u2019s BoP surplus widened to $1.5 billion in October from $711 million in the same month a year ago, data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed.
\nFor the first 10 months, the BoP position stood at a $3.2-billion surplus, a turnaround from the $7.1-billion deficit in the same period a year ago.
\nThe BSP expects the country\u2019s BoP position to end the year at a $127-million deficit.
\nSectoral indices were mixed on Tuesday. Financials went up by 17.54 points or 1.01% to 1,751.42; industrials climbed by 83.05 points or 0.95% to 8,760.74; and services increased by 14.01 points or 0.93% to 1,507.42.
\nMeanwhile, property fell 18.64 points or 0.7% to 2,640.56; mining and oil dropped 4.57 points or 0.04% to 9,446.33; and holding firms declined by 1.91 points or 0.03% to 5,939.74.\u00a0
\nValue turnover rose to P3.91 billion on Tuesday with 422.56 million issues changing hands, from the P3.73 billion with 690.86 million issued recorded on Monday.\u00a0
\nDeclines edged out advancers, 86 versus 80, while 43 issues closed unchanged. \u00a0 \u00a0
\nNet foreign buying stood at P120.35 million on Tuesday, a turnaround from the P105.9 million in net selling recorded on Monday.\u00a0
\n\u201cThe 6,200 to 6,250 area is a strong resistance zone, so we need to see more buying at these levels to build a case for a fresh rally,\u201d Mr. Colet said. \u2014 R.M.D. Ochave with Reuters
\n", "content_text": "PHILIPPINE SHARES rebounded on Tuesday as investors took cues from US markets\u2019 performance and the release of October external payments data.\nThe Philippine Stock Exchange index climbed by 25.20 points or 0.4% to finish at 6,208.83 on Tuesday, while the broader all shares index increased by 9.28 points or 0.28% to close at 3,314.60.\u00a0\n\u201cThe index returned above the 6,200 level as a relatively benign market environment, an overnight rally in US shares, and a favorable auction of 20-year US Treasuries spurred bargain hunting in local equities,\u201d China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.\u00a0\nWall Street\u2019s three major stock averages closed higher on Monday, with Nasdaq\u2019s 1% rally leading the charge, as heavyweight Microsoft hit a record high after it hired prominent artificial intelligence executives, Reuters reported.\nThe Dow Jones Industrial Average rose 203.76 points or 0.58% to 35,151.04; the S&P 500 gained 33.36 points or 0.74% at 4,547.38; and the Nasdaq Composite added 159.05 points or 1.13% at 14,284.53.\n\u201cThe local bourse gained… following the US markets overnight amid the signs of a slowdown in the US inflation. The positive sentiment was further fueled by the recorded surplus in the Philippines\u2019 balance of payments (BoP) in October, indicating potential support for the peso, which has been gaining strength recently against the US dollar,\u201d Philstocks Financial, Inc. Research Analyst Claire T. Alviar added in a Viber message.\u00a0\nThe Philippines\u2019 country\u2019s BoP surplus widened to $1.5 billion in October from $711 million in the same month a year ago, data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed.\nFor the first 10 months, the BoP position stood at a $3.2-billion surplus, a turnaround from the $7.1-billion deficit in the same period a year ago.\nThe BSP expects the country\u2019s BoP position to end the year at a $127-million deficit.\nSectoral indices were mixed on Tuesday. Financials went up by 17.54 points or 1.01% to 1,751.42; industrials climbed by 83.05 points or 0.95% to 8,760.74; and services increased by 14.01 points or 0.93% to 1,507.42.\nMeanwhile, property fell 18.64 points or 0.7% to 2,640.56; mining and oil dropped 4.57 points or 0.04% to 9,446.33; and holding firms declined by 1.91 points or 0.03% to 5,939.74.\u00a0\nValue turnover rose to P3.91 billion on Tuesday with 422.56 million issues changing hands, from the P3.73 billion with 690.86 million issued recorded on Monday.\u00a0\nDeclines edged out advancers, 86 versus 80, while 43 issues closed unchanged. \u00a0 \u00a0\nNet foreign buying stood at P120.35 million on Tuesday, a turnaround from the P105.9 million in net selling recorded on Monday.\u00a0\n\u201cThe 6,200 to 6,250 area is a strong resistance zone, so we need to see more buying at these levels to build a case for a fresh rally,\u201d Mr. Colet said. \u2014 R.M.D. Ochave with Reuters", "date_published": "2023-11-21T21:00:17+08:00", "date_modified": "2023-11-21T18:28:34+08:00", "authors": [ { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" } ], "author": { "name": "BusinessWorld", "url": "https://www.bworldonline.com/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/eda8ffc51ac7ec8b231b61b4c6a0d14e?s=512&d=mm&r=g" }, "image": "https://www.bworldonline.com/wp-content/uploads/2023/03/PSE-stocks-bell.jpg", "tags": [ "Featured2", "Revin Mikhael D. Ochave", "Editors' Picks", "One News", "Stock Market" ] } ] }