Friday, June 24, 2022
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
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • 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
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Stocks

Market declines; Globe, SBC up

Manila Standard BusinessbyManila Standard Business
March 7, 2017, 8:26 pm
in Stocks
Reading Time: 2 mins read
A A
72
SHARES
Share on FacebookShare on TwitterShare on Email

Stocks fell Tuesday to end a three-day advance, as investors assess the prospects of US interest-rate increase.

The Philippine Stock Exchange index, the 30-company benchmark, dropped 19 points, or 0.3 percent, to close at 7,294.52.  Four of the six sectoral indices declined, with only financials and services gaining slightly.

The heavier index, representing all shares, also fell 14 points, or 0.3 percent, to settle at 4,400.57, on a value turnover of P8.4 billion.  Losers outnumbered gainers, 109 to 82, while 40 issues were unchanged.

Eight of the 20 most active stocks ended in the green, led by Globe Telecom Inc. which climbed 3.5 percent to P1,899 and Security Bank Corp. which rose 2.4 percent to P206.80.  BDO Unibank Inc. added 1.8 percent to close at P121.60.

Meanwhile, investors in most Asian markets built on the previous day’s advance Tuesday but with caution hanging in the air the gains were limited by concerns over Donald Trump’s lack of detail on economic policy as well as geopolitical risks.

ADVERTISEMENT

Analysts said Trump’s weekend Twitter outburst accusing his predecessor Barack Obama of tapping his phones during the election campaign had also spooked investors, while the dollar was unable to break past 114 yen despite a US interest rate hike all but certain.

While Trump’s speech to Congress last week fired optimism that he would press on with a big-spending, tax-cutting program, he has provided nothing in the way of color since.

Adding to the sense of trepidation were Trump’s claims about Obama and his call for Congress to investigate the unsubstantiated allegations, as well as the leaking of classified information linked to the tycoon’s ties with Russia.

“After a spectacular performance addressing the joint sitting of Congress put the Trump presidency back on track, the weekend tweets reminded everyone that this Russian question needs to be addressed and answered,” Greg McKenna, chief market strategist at CFD and FX provider AxiTrader, said in a note.

“It also reminded investors that there are distractions which could slow down the execution and implementation of the tax and infrastructure spending plans they have put so much faith in recently,” McKenna said.

US shares, which last week touched record highs, started this week in the red, with all three main indexes down, while European markets also retreated on profit-taking and concerns about financial giant Deutsche Bank.

Eyes now turn to the release Friday of US jobs data, which will provide fresh clues about the Federal Reserve’s plans for monetary policy, which comes after China unveils economic figures Wednesday.

Asian markets were mostly higher, with Hong Kong adding 0.3 percent in the afternoon, Shanghai ending 0.3 percent up and Sydney 0.3 percent higher while Seoul put on 0.6 percent.

However Tokyo shed 0.2 percent, extending Monday’s losses that came after North Korea’s quadruple missile launch, three of which landed in Japanese-controlled waters, stoking regional security fears.

Wellington, Manila and Jakarta were also down.

Kiyoshi Ishigane, chief strategist at Mitsubishi UFJ Kokusai Asset Management, told Bloomberg News: “We’re yet to see what the latest non-farm payrolls data look like. With Bloomberg, AFP

Tags: GlobePhilippine Stock ExchangePhilippine Stock Exchange IndexPSEPSEiSBCStock Market
ADVERTISEMENT
Manila Standard Business

Manila Standard Business

Related Posts

Philex eyes P2.65B from stock rights offering

byJenniffer B. Austria
June 24, 2022, 9:40 pm
0
129
Philex to launch Silangan mine’s development in Q2

Gold and copper producer Philex Mining Corp. is raising P2.65 billion from a planned stock rights offering. Philex, according to...

Read more

Stocks fall sharply; ICTSI and SM Prime lead losers

byManila Standard
June 22, 2022, 7:50 pm
0
209
Stock market surges; PLDT, Globe advance

Stocks slumped Wednesday along with the rest of Asia, with recession fears continuing to build as central banks hike interest...

Read more

Market declines on widening BOP deficit; PhilWeb advances

byManila Standard
June 21, 2022, 6:15 pm
0
210
Stock market surges; PLDT, Globe advance

Stocks fell Tuesday on expectations of an interest rate hike later this week and concerns over the widening balance of...

Read more

Tokyo shares open higher with eyes on Powell testimony

byAFP
June 21, 2022, 9:00 am
0
165
Fed to meet as inflation, virus variants complicate US recovery

Tokyo shares opened higher Tuesday, as investors wait to hear Federal Reserve Chair Jerome Powell address the US Congress later...

Read more

Share prices close flat; ICTSI, Jollibee advance

byManila Standard
June 20, 2022, 7:45 pm
0
187
Stock market surges; PLDT, Globe advance

Stocks closed virtually flat Monday but sentiment continues to be clouded by fears that central bank moves to rein in...

Read more

Stock market trading to remain volatile

byJenniffer B. Austria
June 19, 2022, 6:20 pm
0
248
Stock market surges; PLDT, Globe advance

Trading at the Philippine Stock Exchange is expected to remain volatile, with the index nearing the bear market, amid lingering...

Read more

Stories you may like

  • Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    36708 shares
    Share 14683 Tweet 9177
  • Of course, it was BBM’s project

    30861 shares
    Share 12344 Tweet 7715
  • INC endorses BBM, Sara

    28802 shares
    Share 11521 Tweet 7201
  • Duterte’s seven biggest achievements

    21810 shares
    Share 8724 Tweet 5453
  • Marcos leads SWS survey on presidentiables at 50%

    13581 shares
    Share 5432 Tweet 3395

Print Edition

View More

Recent Posts

  • Drilon says completion of Jalaur River dam to boost food security in PH
  • Salceda hails DOST for getting UN award
  • PCUP to release coffee table book
  • Taguig City holds earthquake drills
  • Hospital executives meet to create dev’t plan
  • Marcos economic team targets ‘A’ credit rating
  • Philex eyes P2.65B from stock rights offering
  • Potato Corner expansion

Advertisement

Latest News

Marcos economic team targets ‘A’ credit rating

byJulito G. Rada
June 24, 2022, 9:50 pm
0
134
55 winning party-lists proclaimed, Tingog gets 2 seats

The economic team of the incoming Marcos administration set its sights on the attainment of “A” investment grade rating through...

Read more

Philex eyes P2.65B from stock rights offering

byJenniffer B. Austria
June 24, 2022, 9:40 pm
0
129
Philex to launch Silangan mine’s development in Q2

Gold and copper producer Philex Mining Corp. is raising P2.65 billion from a planned stock rights offering. Philex, according to...

Read more

Potato Corner expansion

byManila Standard Business
June 24, 2022, 9:32 pm
0
134
Ajinomoto goes solar

Potato Corner, a Philippine franchise, opens a store at Comic City in Guangzhou, south of China. Lending support to the...

Read more

Ajinomoto goes solar

byManila Standard Business
June 24, 2022, 9:30 pm
0
131
Ajinomoto goes solar

Ajinomoto Philippines Corp. holds an energization ceremony to prompt the introduction of solar power energy in Ajinomoto Philippines Flavor Food...

Read more

Peso nears 55 to a dollar amid hawkish Fed signals

byJulito G. Rada
June 24, 2022, 9:30 pm
0
134
43-month low: Peso weakens further vs. dollar

The peso on Friday hit another 16-year low and nearly broke the 55-per-dollar barrier on hawkish signals from the US...

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
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • 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