128 0 0 3 min to read

The stock market index falls due to profit-taking, while the peso strengthens.

The main equity index ended the day on a negative note due to profit-taking, while the local currency strengthened versus the US dollar.

The Philippine Stock Exchange index (PSEi) fell 0.93 percent to 7,432.62, or 69.86 points.

The Dow Jones Industrial Average fell 0.68 percent, or 26.84 points, to 3,924.74 points.

The majority of sectoral indicators, including Holding Firms, 1.82 percent, Services, 1.70 percent, and Industrial, 0.61 percent, concluded the day in the red.

Financials, on the other hand, were flat with a 0.03 percent decline, while Mining, Oil, and Property increased 2.38 percent and 0.75 percent, respectively.

A total of 1.31 billion shares worth PHP10.5 billion were traded.

At 101 to 97, decliners outnumbered advancers, with 55 shares remaining unchanged.

“With the announcement of the latest MSCI (Morgan Stanley Capital International) rebalancing results and ahead of the latest US CPI (consumer price index) data tonight, Philippine equities succumbed to profit-taking,” said Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales.

The January 2022 CPI report in the United States, according to Limlingan, will be a crucial element in the Federal Reserve’s rate-hiking pace.

“Expectations are for prices to have risen more than 7%, which would be the steepest increase in more than 40 years,” he said.

Meanwhile, the peso strengthened to a dollar after closing at 51.235, up from 51.34 on Wednesday.

Its strength was evident early on, as it opened the day at 51.3, up from 51.43 the previous session.

It traded between 51.32 and 51.21, averaging 51.267 for the day.

The volume was USD937.4 million, down from USD992.1 million the day before.

QR Code

Save/Share this story with QR CODE


Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

πŸ“© Need to get in touch?

Feel free to Email Us for comments, suggestions, reviews, or anything else.


We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❀️GIVE A TIP. Send a small donation thru Paypal😊❀️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) πŸ›’ BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) πŸ‘ Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).


AFFILIATE PARTNERS
LiveGood
World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.


0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x