简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Philippine stock market plummets amid investor caution over US inflation data. Belle Corp. gains 50% while SM Prime Holdings Inc. falls 3.66%. Find out more here.
The benchmark Philippine Stock Exchange Index (PSEi) plummeted 1.01 percent to 6,872.24 points on Monday, a significant drop in Philippine stocks. Also losing 0.78 percent was the bigger All Shares index, which closed at 3,574.72 points.
Investor caution before the publication of US inflation statistics, which may affect market sentiment and lead to changes in monetary policy by the US Federal Reserve, was the primary factor in the market's loss. Regina Capital Development's director of sales, Luis Gerardo Limlingan, said that February's US Consumer Price Index (CPI) statistics may affect the Fed's policy rates in the coming months.
507.92 million shares worth P3.76 billion changed hands during trading, reflecting this cautious attitude. Interestingly, foreign investors sold shares worth P277.7 million more than they initially purchased, making them net sellers.
All sectors of the Philippine stock market fell on Monday, with the property sector down 2.70 percent and the industrial sector down 1.15 percent.
Despite the market decline, several companies made notable moves. The most gainer was Belle Corp., up 50% to P1.92. The reason for this increase was Belle Corp.'s intention to use a tender offer and a voluntary delisting procedure to privatize Premium Leisure Corp., its gaming business.
However, despite having the highest trading volume, SM Prime Holdings Inc. had a 3.66 percent decline in share price, closing at P31.60.
SM Investments Corp. (up 0.41%), Ayala Land Inc. (down 2.71%), International Container Terminal Services Inc. (down 2.65 percent), and Universal Robina Corp. (down 0.63 percent) were other noteworthy mover-movers.
Metrobank & Trust Co. had a 1.97 percent rise, while Bank of the Philippine Islands saw a 0.08 percent decline in banking stocks. In contrast, PLDT Inc. increased by 1.31 percent, while Jollibee Foods Corp. decreased by 1.52 percent. Ayala Corp. also had a 2.41 percent decline.
In conclusion, the market remained cautious, with 53 firms finishing unchanged and more losses (125) than winners (62). Investors keep a tight eye on outside variables, especially US economic data, for clues about the direction of the market and possible investment possibilities.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Saxo Bank launched an attractive promotion for new clients that offers zero commission trading on transactions for the 100 most popular US stocks. This campaign began on September 17, 2024, and runs until December 31, 2024. It aims to attract clients who want to invest without paying trading costs.
MetaQuotes now offers Nasdaq real-time tick data in MetaTrader 5. Subscribe for accurate market analysis, improved trading strategies, and flexible subscription plans.
Federal Reserve Cuts Rates for the First Time in Four Years. On September 18, Bank of America Global Research revealed an upward adjustment in its forecast, expecting the Federal Reserve to implement a total of 75 basis points in rate cuts by year-end.
The Federal Reserve’s decisions to raise or cut interest rates are among the most influential drivers of market activity, particularly in the forex and cryptocurrency markets. Understanding the impact of rate changes is crucial for market participants, as it helps them anticipate potential movements and adjust their strategies accordingly.