RECENT interest rate hikes by US and Philippine central banks, along with the depreciating peso, are seen to weigh on local stocks next month, as investors await more economic catalysts.
LOCAL STOCKS may move sideways this week on the lingering effects of the interest rate hikes by the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) amid the depreciating peso.
PHILIPPINE SHARES declined further on Thursday after the US Federal Reserve raised borrowing costs anew overnight and gave a hawkish outlook on rates, with the Bangko Sentral ng Pilipinas (BSP) also delivering another increase at its own policy meeting.
PHILIPPINE STOCKS plunged on Wednesday on expectations of another big rate hike from the US Federal Reserve overnight and as the peso tested new lows against the dollar.
SHARES inched higher on Tuesday to end a five-day decline on bargain hunting ahead of the monetary policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP), where markets expect further tightening.
PHILIPPINE STOCKS fell on Monday on selling pressure ahead of the monetary policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) this week.
PHILIPPINE SHARES may continue to decline this week ahead of the policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).
THE benchmark index slipped to the 6,500 level on Thursday on profit taking and cautious trading ahead of central bank meetings next week and the rebalancing of Financial Times Stock Exchange (FTSE) on Friday.
SHARES slumped on Wednesday, tracking Wall Street’s decline, following faster-than-expected US consumer inflation in August.
STOCKS closed lower on Tuesday in thin trade ahead of the release of latest US consumer inflation data overnight that could affect the US Federal Reserve’s policy decision next week.
PHILIPPINE SHARES climbed on Monday on bargain hunting following last week’s decline and despite data showing foreign direct investments (FDIs) declined in June.
PHILIPPINE SHARES may see volatile trading this week as the peso remains weak against the dollar amid lingering recession fears as global central banks continue to raise rates to combat inflation.