Defining the News
Philippine stocks fell Thursday as investors braced for another round of interest rate hike which the Bangko Sentral ng Pilipinas announced after the trading hours.
The 30-company Philippine Stock Exchange index dropped 36.01 points, or 0.60 percent, to close at 6.018.49, while the broader all-shares index slipped 22.81 points, or 0.69 percent, to settle at 3,266.02. “Concerns over an off-cycle rate hike by the BSP, which eventually materialized this afternoon as the BSP decided to increase benchmark interest rate by 25 basis points weighed on the market,” Philstocks Financial Inc research analyst Mikhail Plopenio said.
Plopenio said worries over the ongoing conflict in the Middle East were also keeping investors on the sidelines.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Filipinos cheered by surviving radio dramasDefining the News
Read more »
Japan court to make landmark transgender decisionDefining the News
Read more »
Charles Dantes, Author at Manila StandardDefining the News
Read more »
Alphabet and Microsoft see earnings rise on AI-infused cloudDefining the News
Read more »
Canada agrees historic Indigenous child welfare settlementDefining the News
Read more »
China's top diplomat to pay rare US visit ahead of potential Xi tripDefining the News
Read more »