Philippine stocks continueWall Street fell overnight due to no new trade drivers.
The Philippine Stock Exchange Index (PSEI) fell 0.16% or 9.82 points to close at 6,108.72, while the widespread all-stock index fell 0.3% or 11.38 points to end with a score of 3,682.29.
Philstocks Financial, Inc. Corruption in the Philippines continues to curb investor sentiment, and local markets are further down. “Research manager Japhet Louis O. Tantianco said in a market report. “The negative tips from Wall Street, weakening of the peso on the dollar, and the recent recent increase in local fiscal yields have also put pressure on local offices.” ”
“There is no solid catalyst at the moment, and bearish attitudes in the market continue to prevail. In addition, international development has also suppressed sentiment in the Philippines, as Fed Chairman Fed Chairman Fed Powell said slow hiring and lasting inflation are bringing challenging situations to the U.S. economy.
According to Reuters, Fed Chairman Jerome H. Powell said that in the upcoming interest rate decisions, the U.S. central bank needs to balance inflation in its upcoming interest rate decisions, so that the U.S. central bank balances inflation in its upcoming interest rate decisions. This is the issue of U.S. Federal Reserve Chairman Jerome H. Powell said that in the upcoming interest rate decisions, the U.S. central bank needs to balance inflation in its upcoming interest rate decisions. This is the issue of U.S. Federal Reserve Chairman Jerome H.
In Tuesday’s comments, Mr. Powell had little hint that he thinks the Fed lowers interest rates next time. The Fed lowered the rate for the first time this year and said it could cut further.
The Dow Jones industrial average fell 88.76 points, or 0.19% to 46,292.78; the S&P 500 lost 36.83 points, or 0.55% to 6,656.92; the Nasdaq composite lost 215.50 points, or 0.95% to 22,573.47.
Mr. Powell’s colleagues earlier commented on both sides of the policy argument. Michelle Bowman, vice chairman of the Federal Reserve oversight, said the Fed could downplay concerns about continued inflation and would need to commit to lower interest rates to support the job market.
At home, all sector indexes ended in red on Wednesday. Property fell 0.37% or 8.96 points to 2,394.07; industrial communities fell 0.33% or 29.85 points to 8,843.17; holding companies sunk 0.21% or 10.81 points to 5,012.23; services fell 0.17% or 3.93 points to 2,235.86; mining and oil fell 0.15% or 18.49 points to 12,275.03; financial conditions fell 0.13% or 2.73 points to 2,065.82.
Value turnover fell to Pes 5.26 billion on Wednesday, with 5.37 billion shares trading from 22.69 billion shares and changing hands on 2.72 billion shares Tuesday.
The number of rejecters exceeded 103 to 88 progressivers, while 63 names remained unchanged.
Foreign net sales were 370.63 million pesos, with net purchases recorded on Tuesday of 7.05 billion pesos. – Alexander Grace C. Magno and Reuters
