MANILA – Local stocks declined after the Federal Reserve’s decision to lower interest rates, while the peso remained stable, closing at 59 to the dollar on Thursday (19 Dec 2024).

The Philippine Stock Exchange Index (PSEi) dropped by 1.14 percent, closing at 6,395.60, while the broader All Shares index also fell by 0.76 percent to 3,671.75.

“Philippine shares continued their downward trend following the Federal Reserve’s 25-basis point rate cut, with the local bourse closing at 6,395.60, down by 1.14 percent,” said Luis Limlingan, managing director of Regina Capital Development Corp.

All market sectors ended in the red, with Mining and Oil experiencing the largest decline at 2.37 percent.

Decliners outpaced advancers, with 126 stocks losing ground compared to 72 that gained.

Meanwhile, the peso moved sideways, closing at 59 to the dollar, slightly up from Wednesday’s 58.99. It opened the day at 59, fluctuated between 58.98 and 59, with a weighted average of 58.99.

Trading volume increased to USD 1.09 billion from USD 884.55 million.

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MANILA – Local stocks dropped on Wednesday (23 Oct 2024) as investors grew cautious due to the lack of fresh market catalysts, while peso-dollar trading was halted due to weather-related disruptions.

The Philippine Stock Exchange index (PSEi) fell by 0.61% to 7,367.66, with All Shares down by 0.85% to 4,050.76.

“The market retreated by 0.61% today as investors remain cautious without any new positive drivers,” said Japhet Tantiangco, research manager at Philstock Financials, Inc.

Mining stocks saw modest gains, rising by 0.43%, while the services sector recorded the largest loss, dropping by 1.92%. Decliners outnumbered advancers, 128 to 71.

Meanwhile, peso-dollar trading was suspended after Malacañang ordered the suspension of government office operations in Luzon due to Severe Tropical Storm Kristine (international name: Trami), according to the Bangko Sentral ng Pilipinas.

The storm led to the halt of both peso-dollar trading and monetary operations for the day.

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MANILA – Local stocks rebounded, and the peso strengthened against the US dollar on Friday (18 Oct 2024), marking a positive close to the trading week.

The Philippine Stock Exchange index (PSEi) advanced by 0.21%, ending at 7,415.73, while the broader All Shares index also rose to 4,081.52.

“Today’s market sentiment was largely driven by optimism surrounding possible policy easing by the Bangko Sentral ng Pilipinas, along with positive expectations for third-quarter corporate earnings,” said Japhet Tantiangco, research manager at Philstocks Financials, Inc., in a statement.

The mining sector led the gains, climbing 0.76%, while industrial stocks posted the largest decline, down 0.19%. Advancing stocks outnumbered decliners 103 to 91.

On the currency front, the peso closed at 57.511 against the dollar, strengthening from Thursday’s finish of 57.8. The peso traded within a range of 57.48 to 57.8, with a weighted average of 57.651.

Trading volume in the foreign exchange market increased to USD 1.7 billion, up from USD 1.4 billion on the previous day.

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