On Monday, the benchmark Philippine Stock Exchange index (PSEi) dropped by 10.17 points or 0.15% to close at 6,721.08, while the broader all shares index went down by 8.31 points or 0.23% to 3,596.83. READ:
On Monday, the benchmark Philippine Stock Exchange index dropped by 10.17 points or 0.15% to close at 6,721.08, while the broader all shares index went down by 8.31 points or 0.23% to 3,596.83.Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said the weak trading seen on Monday shows many investors are staying on the sidelines amid lingering uncertainties.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in an e-mail that the market is waiting for the Fed’s policy meeting on May 3-4, where the central bank is expected to hike key rates by 50 basis points , bigger than the 25-bp increase it fired off in March. Investors expect the Fed to hike rates by 50 bps when it meets on May 3-4 and the uncertainty is around how hawkish Fed Chair Jerome Powell will sound in comments following the decision, Reuters reported.
At home, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said in an interview with Bloomberg TV last week that the central bank may consider hiking key interest rates at its June 23 meeting.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US healthcare outsourcer seen expanding PHL footprint - BusinessWorld OnlineThe Department of Trade and Industry (DTI) said it is currently facilitating the Philippine expansion of US healthcare information technology outsourcer Anthem, Inc. READ:
Read more »
DTI sees outsourcing investors bringing in more high-end work - BusinessWorld OnlineTrade Secretary Ramon M. Lopez said business process outsourcing (BPO) companies investing in the Philippines are engaging in higher-value activity, enabling the industry to climb the value chain. READ:
Read more »
Market bets on higher SM Prime Q1 earnings - BusinessWorld OnlineInvestors were cautiously optimistic on SM Prime Holdings, Inc. last week as they expect higher first-quarter earnings amid looser movement curbs recently. READ:
Read more »
Domestic trade in 2021 rises 21.6% by value - BusinessWorld OnlineDomestic trade by value in 2021 rose by 21.6% to P718.44 billion, the Philippine Statistics Authority (PSA) said, reflecting a recovery in the economy from the low base formed by 2020, the first year of the pandemic. READ:
Read more »
Pope defends media freedom, pays tribute to killed reporters - BusinessWorld OnlineVATICAN CITY — Pope Francis on Sunday paid tribute to journalists who have died or been jailed in the line of duty, defending a free press and praising those in the media who courageously report on “humanity’s wounds”.
Read more »
SEC flags WOW Company for Ponzi-like investment scheme - BusinessWorld OnlineThe Securities and Exchange Commission (SEC) issued an order of revocation to Wealth on Web Company, or WOW Company, for its Ponzi-like investment scheme and for operating without a license or registration. READ:
Read more »