Connect with us

Hi, what are you looking for?


Philippine stocks climb before US inflation data

PHILIPPINE SHARES barely moved on Tuesday as investors await US inflation data for April that could dictate the US Federal Reserve’s monetary policy move.

The benchmark Philippine Stock Exchange index (PSEi) inched up by 0.002% or 0.11 point to close at 6,507.26. The broader all-share index slid by 0.25% or 8.93 points to 3,467.25.

“The index ended the day flat but with increased value turnover as investor sentiment was at an equilibrium between bargain hunters and cautious traders ahead of US May inflation data,” Juan Paolo E. Colet, managing director at China Bank Capital Corp., said in a Viber message.

“The market would want to see continued deceleration in US inflation figures, which could give the Fed leeway to forego any rate hikes in the near term,” he added.

Many investors were waiting for US inflation data, “which would likely determine market sentiment,” Luis A. Limlingan, head of sales at Regina Capital Development Corp., said in a Viber message.

The June Federal Open Market Committee meeting will happen this week and it is expected to come out with a statement on Wednesday.

“Back at home, the key economic releases for this shortened week are the March foreign direct investments on June 13 and April cash remittances on June 15,” he added.

The US Fed raised it benchmark overnight interest rates by 25 basis points (bps) at its policy meeting last month. It has raised fund rates by 500 bps since March 2022 to 5%-5.25%. Its next policy meeting is set for June 13-14.

Back home, majority of sectoral indices fell on Tuesday.  Services went up by 0.13% or 2.11 points to 1,543.87, while holding firms rose by 0.12% or 7.93 points to 6,483.17.

Meanwhile, industrials fell by 0.62% or 57.79 points to 9,209.04; mining and oil slid by 0.45% or 46.42 points to 10,064.59; financials declined by 0.26% or 4.82 points to 1,841.59; and property fell by 0.005% or 0.14 points to 2,626.84.

Value turnover inched down to P5.51 billion, with 517.1 million shares changing hands.

Decliners outnumbered advancers 127 versus 68, while 43 stocks were unchanged.

Net foreign selling increased to P217.41 million from P202.11 million on Friday. — AHH

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



THE Board of Investments (BoI) said it endorsed for green-lane treatment a P50-billion common passive telecommunications tower infrastructure project which it expects to generate...


THE Department of Trade and Industry (DTI) said manufacturers had arrived at a “consensus” to delay price increases until the end of 2023. “What...


THE Department of Budget and Management (DBM) said it wants to keep disbursements above 20% of gross domestic product (GDP) to ensure the government...


PROPOSALS to tax junk food as well as raise the current tax on sweetened beverages are not feasible, a senior legislator said. “On a...


THE Intellectual Property Office of the Philippines (IPOPHL) said internet service providers (ISPs) have committed to act promptly in disabling sites that are subject...


THE National Privacy Commission (NPC) asked the public to exercise caution in the use of an artificial intelligence (AI)-supported application that renders user photographs...

You May Also Like

Top News

As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...


The Toto site’s user-friendly interface makes it easy for both beginners and experienced gamblers to navigate through the various features. “¸ÔÆ¢Æú¸®½º site is a...


Almost 100 jobs are thought to be under threat at smart home energy technology manufacturer myenergi. The Grimsby firm, named one of the UK’s...


JUNIOR FERREIRA-UNSPLASH The Philippines is a very small power market by ASEAN standards, with market demand peaking at 15 gigawatts (GW) compared to Thailand’s...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.