Wednesday, October 4, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Stock market climbs; Ayala, Monde Nissin lead advances

Manila Standard BusinessbyManila Standard Business
August 8, 2022, 8:25 pm
in Business, Stocks
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

Stocks gained Monday ahead of the release of second-quarter GDP figures today, with most traders expecting a robust gross domestic product growth as supported by strong positive corporate earnings.

The Philippine Stock Exchange Index rose 28.74 points, or 0.4 percent, to 6,434.24 on a value turnover of P7.9 billion. Gainers beat losers, 113 to 55, with 55 issues unchanged.

Conglomerate Ayala Corp. of the Ayala Group climbed 2.6 percent to P715, while noodles maker Monde Nissin Corp. advanced 2 percent to P16.12.

Security Bank Corp., the eighth biggest lender in terms of assets, added 1.7 percent to P83.40, but Semirara Mining and Power Corp., the largest coal producer, fell 3.7 percent to P39.50.

The rest of Asian markets were mixed Monday and the dollar held big gains as a blockbuster US jobs report ramped up bets that the Federal Reserve will announce more sharp interest rate hikes as it tries to tame runaway inflation.

The jobs figures left Wall Street’s main indexes mixed Friday, and Asia followed suit with markets fluctuating in early trade.

However, there was some relief that tensions had calmed since US House Speaker Nancy Pelosi’s visit to Taiwan last week sparked a furious reaction from China, including live-fire military drills around the island that continued Monday.

Hong Kong fell, with little excitement generated by news that the city will cut the amount of time incoming travelers must spend in hotel quarantine.

Singapore, Taipei, Bangkok, Jakarta, and Wellington were also down, but Tokyo, Sydney, Seoul, and Mumbai edged up.

Shanghai was boosted by better-than-expected Chinese trade data, though the gains were tempered by fresh worries about COVID lockdowns in the country that threaten the economic recovery.

While the employment reading—which was more than twice as high as expected—indicated the world’s top economy remained resilient despite rising prices and borrowing costs, it will complicate the central bank’s plans to tighten monetary policy.

Traders have hoped that with several indicators pointing to a slowdown, including GDP figures showing a technical recession, policymakers could begin to ease back on their pace of rate hikes.

Now, speculation is growing that the Fed will have to announce a third successive 75 basis-point increase next month, particularly as officials have said their decisions will be data-dependent. With AFP

“Friday’s payroll report indicates an overheated labor market that continues to tighten further,” said SPI Asset Management’s Stephen Innes.

“Hence at minimum, the markets expect another 100 basis points of Fed funds rate increases over the next three meetings… with risks skewed towards significant increases.”

All eyes are now on the release this week of US July inflation data, which is expected to show a slight slowdown from June but still at four-decade highs.

The “report seems very unlikely to offer ‘compelling evidence’ of a slowdown needed for the Fed to pull away from its aggressive inflation-fighting mode,” Innes added. With AFP

Tags: Ayala Corp.gross domestic productMonde Nissin Corp.Philippine Stock Exchange IndexStock Market
ADVERTISEMENT
Manila Standard Business

Manila Standard Business

Related Posts

MUFG, Cebu Pacific close $123-million lease financing for 2 aircraft

byManila Standard Business
October 4, 2023, 8:05 pm
0
8
Mitsubishi reduces stake in Manila Water amid row

MUFG Bank Ltd. (MUFG) said Wednesday it closed a 12-year $123-million Japanese operating lease with call option (JOLCO) financing with...

Read more

AMRO: Philippines to post fastest growth in ASEAN in 2023, 2024

byManila Standard Business
October 4, 2023, 3:07 pm
0
8
Asian think tanks see PH expanding over 6% in 2023

The Philippines is expected to post the fastest growth in the Association of Southeast Asian Nations this year and next,...

Read more

BOI endorses P50-billion telecom tower project

byManila Standard Business
October 4, 2023, 2:34 pm
0
8
BOI endorses P50-billion telecom tower project

The Board of Investments (BOI) said Wednesday it granted green lane endorsement to the Common Passive Telecommunications Tower Infrastructure Project...

Read more

IMF: Maharlika fund can close infrastructure gap in the Philippines

byManila Standard Business
October 4, 2023, 10:28 am
0
8
IMF raises 2021 growth estimate for PH to 4.6%

An International Monetary Fund (IMF) team who recently visited the Philippines said the Maharlika Investment Fund could help narrow the...

Read more

IMF slashes PH growth forecast to 5.3%

byJulito G. Rada
October 3, 2023, 9:50 pm
0
8
Philippine economy plays catch-up

The International Monetary Fund on Tuesday cut its 2023 growth forecast for the Philippines to 5.3 percent from the 6.2-percent...

Read more

Foreign tourists in PH surpassed 4m in 9 months

byOthel V. Campos
October 3, 2023, 9:45 pm
0
8
Sunlight Air takes flight into new era: Relocates to NAIA Terminal 4 for elevated travel experience

International Tourism receipts reached P344 billion from January to September this year, as arrivals topped the 4-million mark, Department of...

Read more

Print Edition

View More

Recent Posts

  • MUFG, Cebu Pacific close $123-million lease financing for 2 aircraft
  • Sister-team duels highlight PVL All-Filipino opener
  • Sara, 7 others savor JPGT journey
  • Saudi runner 2nd competitor to fail dope test at Asiad
  • Blazers bank on Hernandez’s hot shooting to whip Cardinals
  • Maroons use strong start to crush Warriors, stay unbeaten in UAAP
  • Marikina foils Quezon, Bacoor dumps Bataan
  • Brodeth, Gomera crush rivals in PPS Lapu-Lapu

Advertisement

Latest News

Maroons use strong start to crush Warriors, stay unbeaten in UAAP

byManila Standard
October 4, 2023, 7:35 pm
0
8
Brodeth, Gomera crush rivals in PPS Lapu-Lapu

University of the Philippines used a strong start to carve out an 84-69 victory over University of the East to...

Read more

Marikina foils Quezon, Bacoor dumps Bataan

byManila Standard
October 4, 2023, 7:30 pm
0
8
Brodeth, Gomera crush rivals in PPS Lapu-Lapu

Marikina weathered Quezon Province’s final assault to prevail, 73-70, on Tuesday and prove it deserves to be in the MPBL...

Read more

Brodeth, Gomera crush rivals in PPS Lapu-Lapu

byManila Standard
October 4, 2023, 7:25 pm
0
8
Brodeth, Gomera crush rivals in PPS Lapu-Lapu

Kimi Brodeth and Mcleen Gomera firmed up their status as two of the best players in the ranks as they...

Read more

Twins arrest historic playoff win drought

byAFP
October 4, 2023, 7:20 pm
0
8
PH Rugby Union elects new officers

WASHINGTON—Royce Lewis smashed home runs in his first two playoff opportunities and the Minnesota Twins snapped the longest post-season win...

Read more

Messi uncertain as Miami visits Chicago in key MLS clash

byAFP
October 4, 2023, 7:14 pm
0
8
PH Rugby Union elects new officers

WASHINGTON—Lionel Messi remained uncertain for Inter Miami’s MLS match on Wednesday at Chicago as the squad chases a playoff berth...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App