Sunday, May 28, 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
  • 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

Stock market likely to drop this week

Jenniffer B. AustriabyJenniffer B. Austria
January 9, 2022, 6:55 pm
in Business, Stocks
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

Share prices are expected to move on a downward trend this week on the possibility that Metro Manila could be placed at an even higher quarantine restrictions due to the spike in COVID-19 cases.

Health Secretary Francisco Duque III over the weekend raised the possibility of raising the quarantine status of the National Capital Region to Alert Level 4 as COVID-19 cases continue to surge.

BDO Unibank Inc. chief investment strategist Jonathan Ravelas said while the Philippine Stock Exchange Index index could consolidate between 7,000 points and 7,300 points, a sustained drop below 7,000 would signal further decline to the 6,500 to 6,800 level.

First Metro Investments Corp., however, still expects the stock market to trade higher this year despite the threat of Omicron on the gross domestic product growth.

“Nonetheless, we expect PSEi to continue on an upward trend in 2022, with the expected fast GDP growth in 2022 (boosted by May Presidential elections), aided by robust consumer spending (as mall traffic surged in preparation for the Christmas season celebrations),” said FMIC in a report.

The 30-company PSEi dropped last week fell 1.6 percent to 7.011.11 after Metro Manila and other areas were placed under Alert level 3.

Except for the holding firms which rose 0.6 percent, all other sub-indices ended on a negative.

Property decreased 4.7 percent; industrial declined 2.8 percent; services went down by 2.2 percent; financials down 1.5 percent ; and mining and oil slipped 0.80 percent.

Foreign investors were net sellers for the week by P345 million, while the average daily value traded reached P5.5 billion from the previous week’s average of P4.89 billion.

Weekly top price gainers were Semirara Mining and Power Corp., which rose 10.7 percent to P23.65, JG Summit Holdings Inc., which jumped by 7.5 percent to P56.20 and Aboitiz Equity Ventures Inc., which climbed 4.1 percent to P56.70.

Weekly top price losers were AC Energy Corp., which sank 15.2 percent to P9.33, Security Bank Corp., which declined 12.5 percent to P104.10, and Union Bank Corp., which fell 8.8 percent to P90.70.

Stocks, meanwhile, mostly fell Friday on both sides of the Atlantic after data showed that the US economy added far fewer jobs than expected last month and eurozone inflation hit a record high.

London’s FTSE 100 index bucked the trend, ending the day 0.5  percent higher, but Paris and Frankfurt slid.

On Wall Street, the Dow treaded water, but both the S&P 500 and Nasdaq declined to conclude a down week for US stocks.

Asia faced a mixed trading session after another round of losses on Wall Street on Thursday as investors continued to mull signals by the US Federal Reserve that it was ready to tighten monetary policy more quickly to combat spiking inflation.

The dollar  dipped, while oil  pulled back modestly after days of strong gains.

Government data showed that the US economy added only 199,000 jobs in December. 

While that was less than half of what analysts expected, the unemployment rate fell to 3.9 percent, wages rose strongly and participation in the labor force held steady, indicating the job market remains tight. With AFP

Tags: global stock marketPhilippine Stock Exchange IndexPSEiStock MarketWall Street
ADVERTISEMENT
Jenniffer B. Austria

Jenniffer B. Austria

Related Posts

Japan firm gets incentives for Subic expansion

byOthel V. Campos
May 28, 2023, 7:20 pm
0
8
Japanese firm to break ground on P40-b facility

The Fiscal Incentives Review Board approved Nidec Corp.’s application for incentives for its P4.2-billion expansion project in Subic Bay Freeport...

Read more

CTRP hiked tax collection by over P200b last year

byJulito G. Rada
May 28, 2023, 7:10 pm
0
8
New DOT secretary promotes inclusive and sustainable tourism

The government collected P202.8 billion in additional revenues in 2022 with the implementation of the Comprehensive Tax Reform Program, Finance...

Read more

PLDT Enterprise wins gold at Stevie Awards

byManila Standard
May 28, 2023, 7:05 pm
0
8
PLDT urges internet service providers to clean cyberspace

PLDT Enterprise recently bagged a coveted gold award on innovation in business-to-business events at the 2023 Asia-Pacific Stevie Awards. The...

Read more

Stocks expected to rise on US debt deal

byJenniffer B. Austria
May 28, 2023, 7:00 pm
0
8
Stock market surges; PLDT, Globe advance

Share prices are expected to bounce back this week after last week’s dismal performance if talks over the United State’s...

Read more

Diokno: Key reforms boost economy

byJulito G. Rada
May 28, 2023, 6:55 pm
0
8
Traditional sweet factory in central England enjoys global sugar rush

Finance Secretary Benjamin Diokno said over the weekend structural reforms provide the domestic economy the needed boost to continue growing...

Read more

NGCP energizes P10.2-billion transmission line in Bataan

byAlena Mae S. Flores
May 28, 2023, 6:50 pm
0
8
NGCP warns against thin power supply in next dry months

By Alena Mae S. Flores National Grid Corp. of the Philippines said over the weekend it energized the P10.2-billion Hermosa-San...

Read more

Print Edition

View More

Recent Posts

  • Japan firm gets incentives for Subic expansion
  • WESM electricity prices increased in early May
  • CTRP hiked tax collection by over P200b last year
  • PLDT Enterprise wins gold at Stevie Awards
  • Stocks expected to rise on US debt deal
  • Diokno: Key reforms boost economy
  • NGCP energizes P10.2-billion transmission line in Bataan
  • Phase 1 of LRT Cavite extension seen opening by September 2024

Advertisement

Latest News

Diokno: Key reforms boost economy

byJulito G. Rada
May 28, 2023, 6:55 pm
0
8
Traditional sweet factory in central England enjoys global sugar rush

Finance Secretary Benjamin Diokno said over the weekend structural reforms provide the domestic economy the needed boost to continue growing...

Read more

NGCP energizes P10.2-billion transmission line in Bataan

byAlena Mae S. Flores
May 28, 2023, 6:50 pm
0
8
NGCP warns against thin power supply in next dry months

By Alena Mae S. Flores National Grid Corp. of the Philippines said over the weekend it energized the P10.2-billion Hermosa-San...

Read more

Phase 1 of LRT Cavite extension seen opening by September 2024

byDarwin G. Amojelar
May 28, 2023, 6:45 pm
0
8
LRMC acquires new train for LRT 1

Light Rail Manila Corp. said the first phase of the LRT Cavite Extension is expected to start commercial operations by...

Read more

IPOPHL expands agreement among e-commerce players

byOthel V. Campos
May 28, 2023, 6:40 pm
0
8
PH ranks 9th globally in IP innovation ranking

The Intellectual Property Office of the Philippines said it expanded the list of signatories to e-commerce memorandum of understanding that...

Read more

IWG announces opening of 7 new sites in PH

byOthel V. Campos
May 28, 2023, 6:35 pm
0
8
IWG announces opening of 7 new sites in PH

Global leader in hybrid working IWG Plc is expanding to seven new sites in the Philippines to serve the increasing...

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