Friday, June 2, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Stock market up slightly; SM Investments advances

Manila StandardbyManila Standard
July 4, 2022, 6:40 pm
in Business, Stocks
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

The stock market rose slightly Monday on thin trading as investors await the release of the June inflation rate today.

The Philippine Stock Exchange Index added 18.27 points, or 0.3 percent, to 6,183.62 on a value turnover of P3.8 billion. Losers, however, beat gainers, 111 to 69, with 50 issues unchanged.

Fiber broadband provider Converge ICT Solutions Inc. surged 5 percent to P22, while PLDT Inc., the biggest telecommunications firm owned by Indonesia’s Salim Group, climbed 3.5 percent to P1,729.

SM Investments Corp. of the Sy Group, advanced 3.9 percent to P800, while unit BDO Unibank Inc., the largest lender in terms of assets, rose 3 percent to P115.50.

The rest of Asian markets swung Monday as traders fret over a possible recession caused by central bank interest rate hikes aimed at fighting soaring inflation.

Data showing a flare-up of fresh COVID-19 cases in China revived concerns about the government’s policy of locking down towns and cities to eradicate the disease, despite the economic cost.

After the S&P 500’s worst January-June since 1970, Wall Street got the second half off to a healthy start Friday as a below-forecast reading on US manufacturing provided hope banks will not go on an extended period of monetary tightening.

That followed a drop in confidence among consumers—a key driver of the world’s top economy.

However, National Australia Bank’s Rodrigo Catril said the Federal Reserve and other global financial chiefs might not ease back on their rate hikes too soon as inflation remains stuck around multi-decade highs.

“While the data is suggesting a US economic slowdown is coming, we are not yet seeing signs of an ease in inflationary pressures, an important distinction given the Fed will continue with its aggressive tightening approach until it sees evidence of the latter,” he said in a commentary.

In a sign of the struggle officials will have in controlling rising prices, figures showed eurozone inflation hit a record 8.6 percent in June. The European Central Bank is due to lift rates this month for the first time in more than a decade.

Still, while surging prices remain a huge problem, Chris Weston, at Pepperstone Group, said the psychology is “shifting radically from inflation concerns to one now where we’re firmly focused on growth”.

While New York provided a strong lead, Asia struggled.

Hong Kong dropped as investors returned from a long weekend to play catch-up with Friday’s losses, while Seoul, Taipei, Bangok and Jakarta were also down.

However, Tokyo, Shanghai, Mumbai, Sydney, Singapore, Taipei and Wellington rose.

A rise in new COVID cases in China over the weekend weighed on sentiment among investors who fear a return to the painful lockdowns in major cities including Shanghai, which hammered the world’s number two economy.

The country saw more than 700 new infections Saturday and Sunday, having held below 50 a day for the previous two weeks.

Macau saw its first two COVID deaths at the weekend and authorities said they would consider a city-wide lockdown to fight the disease. The comments sent Hong Kong-listed shares in Macau casinos plunging. With AFP

Tags: global stock marketPhilippine Stock Exchange IndexPSEiSM Investments Corp.Stock Market
ADVERTISEMENT
Manila Standard

Manila Standard

Related Posts

MREIT acquiring 7 Megaworld office towers

byJenniffer B. Austria
June 1, 2023, 7:45 pm
0
8
Megaworld’s REIT unit set to purchase more assets

MREIT Inc., the real estate investment trust company of Megaworld Corp., said Thursday it plans to acquire seven office towers...

Read more

First Gen unit, Prime Infra sign MOU on LNG terminal

byAlena Mae S. Flores
June 1, 2023, 7:40 pm
0
8
First Gen posted recurring income of P12.4b in 2021

FGEN LNG Corp. of the Lopez Group and Prime Infrastructure Capital Inc. of businessman Enrique Razon Jr. signed Thursday a...

Read more

Guimaras Mangoes awarded GI mark

byOthel V. Campos
June 1, 2023, 7:35 pm
0
8
PH ranks 9th globally in IP innovation ranking

The Intellectual Property Office of the Philippines approved the application of the Guimaras Mangoes as the country’s first registered geographical...

Read more

MPIC defers vote on voluntary delisting

byJenniffer B. Austria
June 1, 2023, 7:30 pm
0
8
Metro Pacific moves to expand operations, provide better customer services in 15 years

Infrastructure conglomerate Metro Pacific Investments Corp. said Thursday it will defer the shareholders vote on the planned voluntary delisting from...

Read more

Globe supports Connectivity Index

byDarwin G. Amojelar
June 1, 2023, 7:25 pm
0
8
How to throw a hybrid holiday party

Globe Telecom Inc. said Thursday it is supporting the creation of a national Connectivity Index Rating, which sets a standard...

Read more

Beep powers QR payment in LRT 1

byManila Standard
June 1, 2023, 7:20 pm
0
8
EDCOM 2-British Council tie-up

AF Payments Inc., the operator of the beep card, announced the successful launch of Maya’s and Light Rail Manila Corp.’s...

Read more

Print Edition

View More

Recent Posts

  • Walk with Pride
  • MIF structure up for review
  • Congress leaders hail accomplishments
  • 1st trilateral maritime exercises
  • Rody rejects calls to serve as government drug czar
  • SWS: 45% of Pinoys optimistic life will improve in 1 year
  • Marcos orders geo-mapping of all agri lands to boost yield
  • Oil firms slash LPG prices by P6/kilo

Advertisement

Latest News

SWS: 45% of Pinoys optimistic life will improve in 1 year

byVito Barcelo
June 2, 2023, 12:40 am
0
8
SWS: Jobless rate eases to 24.8%

At least 45 percent of Filipino adults are optimistic that their lives will improve in the next 12 months, the...

Read more

Marcos orders geo-mapping of all agri lands to boost yield

byVince Lopez
June 2, 2023, 12:35 am
0
8
San Juan tames Caloocan; Bacoor, Mindoro beat rivals

President Ferdinand Marcos Jr. has directed the geological mapping of all agricultural lands in the country to establish soil maps...

Read more

Oil firms slash LPG prices by P6/kilo

byAlena Mae S. Flores
June 2, 2023, 12:30 am
0
8
Isla, Phoenix to hike LPG prices twice in one week

Prices of liquefied petroleum gas (LPG) will go down by at least P6 per kilogram this month. The price adjustments...

Read more

NBI to probe broadcaster’s murder

byRey E. Requejo
June 2, 2023, 12:25 am
0
8
NBI agrees to probe 154 cops  in deadly anti-drug operations

Justice Secretary Jesus Remulla has ordered the National Bureau of Investigation to probe the killing of radio broadcaster Cresenciano Bunduquin...

Read more

SC asked to order Maynilad, Manila Water to refund their customers

byRey E. Requejo
June 2, 2023, 12:20 am
0
8
Marinduque lauds desalination project, sees end to potable water supply woes

Party-list group Bayan Muna on Thursday asked the Supreme Court to partially reconsider its December 2021 decision which barred water...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App