Stock Markets

PH growth 2nd fastest in Southeast Asia: ADB

MANILA — The Philippines is expected to become the second fastest growing economy in Southeast Asia after Vietnam over the next years, supported by robust public and private investment, the Asian Development Bank (ADB) said. In a supplement to its Asian Development Outlook 2018 Update report released on Wednesday, the ADB maintained its economic growth outlook …

Toronto stock index, New York indices fall amid continued volatility

Major North American markets experienced steep drops Friday following weeks of declines and volatility. This week is “one for the history books,” said James Robertson, senior portfolio manager at Manulife Asset Management Ltd. “Intraday volatility has been so extreme.” The S&P/TSX composite index retreated 141.87 points to 14,795.13 despite being in positive territory earlier in …

Asia shares post moderate losses after Wall Street sell off

Shares were moderately lower in Asia on Wednesday following a bloodletting on Wall Street as goodwill generated by a truce between the U.S. and China over trade evaporated in confusion over exactly what the two sides had agreed upon. The Dow Jones Industrial Average fell nearly 800 points. The yield on the benchmark 10-year Treasury …

Local stocks up, peso sideways as trading week ends

MANILA — The continued softening of world crude prices allowed the Philippine Stock Exchange index (PSEi) to finish the week with gains while the peso ended sideways due to consolidation. The PSEi further went up to 7,340.18 points, up 0.99 percent or 71.80 points. Aside from the drop in oil prices in the international market, BDO …

Trading week begins on a positive note

MANILA — Hopes for a continued rise in interest rates here and in the US boosted the Philippine peso, while clear indications that inflation pressures have waned backed the Philippine Stock Exchange index (PSEi). The local currency ended the week’s first trading day at 52.57 from 52.715 Friday last week. A trader attributed this, partly to …

Local markets up due partly to BSP rate hike

MANILA — Philippines’ main equities gauge rose for the second consecutive day ahead of Bangko Sentral ng Pilipinas’ (BSP) announcement on its latest policy rate decision, while the peso also regained lost ground, reverting to the 52-level against the greenback on Thursday’s session. The Philippine Stock Exchange index (PSEi) increased by 0.43 percent, or 29.51 points, …

Local shares recover, Peso stays still

MANILA — The Philippine Stock Exchange index (PSEi) on Wednesday ended its three-day slide, lifted by encouraging earnings in the local bourse, while the peso was almost unchanged against the greenback. PSEi gained 1.16 percent, or 79.25 points, to 6,923.08 points, which Bank of the Philippine Island (BPI), in its market report, traced to higher-than-expected corporate …

Risk-off sentiment pull down local markets

MANILA — Expectations of further increases in the US Federal Reserve’s key rates along with drop of prices of oil in the international market weighed down both the Philippine peso and the Philippine Stock Exchange index (PSEi) Monday. The peso finished the day at 53.295 from 52.96 to a greenback Friday last week. “It’s more about …

Local markets down on Fed rate hike anticipation

MANILA — The Philippine Stock Exchange index (PSEi) fell to the 6,900-level Friday and the peso made a u-turn in apparent reaction to a statement from the US Federal Reserve hinting that further tightening is to come. The PSEi ended the week at 6,968.82 points, down 0.95 percent or 66.89 points. Bank of the Philippine Island …

Stocks skid as tech companies fall; oil plunge continues

NEW YORK — U.S. stocks fell Friday as a combination of weak economic data from China and disappointing earnings hurt technology and internet companies. Crude oil prices fell for the 10th day in a row. Auto sales in China fell in October for the fourth month in a row and are down 13 per cent …