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PH stocks retreat on slowing US economy concerns
Philippine stocks retreated Wednesday on profit-taking from two straight days of gains.
The 30-company Philippine composite index closed at 7,155.90, down 19.46 points, or 0.27 percent, while the all-shares index ended at 3,847.96, down by 2.21 points, or 0.06 percent.
Analysts said investors cashed in on gains while waiting for the outcome of the US Federal Reserve’s policy meeting. Investors were anticipating a 50-basis-point rate cut by the Fed.
“However, some investors...
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PH stocks retreat on slowing US economy concerns
Philippine stocks retreated Wednesday on profit-taking from two straight days of gains.
The 30-company Philippine composite index closed at 7,155.90, down 19.46 points, or 0.27 percent, while the all-shares index ended at 3,847.96, down by 2.21 points, or 0.06 percent.
Analysts said investors cashed in on gains while waiting for the outcome of the US Federal Reserve’s policy meeting. Investors were anticipating a 50-basis-point rate cut by the Fed.
“However, some investors...
Stock market nears 7,200 level; peso at 55.6 a dollar
The main composite index of the Philippine Stock Exchange sustained its upward...
PSEi surpasses7,100; peso at 55.8 a dollar
The Philippine stock market sustained its rally, closing above the 7,100 level...
PSEi expected to stay above7,000 on Fed cut forecasts
Philippine stocks are expected to move sideways with an upward bias this...
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