{"id":138321,"date":"2017-12-12T00:56:14","date_gmt":"2017-12-12T05:56:14","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=138321"},"modified":"2017-12-12T00:56:31","modified_gmt":"2017-12-12T05:56:31","slug":"upgrade-on-phs-credit-ratings-boosts-peso-psei","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/12\/12\/upgrade-on-phs-credit-ratings-boosts-peso-psei\/","title":{"rendered":"Upgrade on PH’s credit ratings boosts peso, PSEi"},"content":{"rendered":"
\"FILE:<\/a>
FILE: (ShutterStock photo)<\/figcaption><\/figure>\n

MANILA \u2014 Monday\u2019s upgrade by Fitch Ratings on the Philippines\u2019 investment grade to \u2018BBB\u2019 from \u2018BBB-\u2018 with Stable outlook lifted both the peso and the Philippine Stock Exchange index (PSEi) on Monday.<\/p>\n

The local unit finished the day\u2019s trade at 50.36, way better than its 50.50 close Friday last week.<\/p>\n

A trader pointed this primarily to the unexpected ratings upgrade on the domestic economy, noting that investors\u2019 will remain optimistic on the domestic economy amidst some political noise.<\/p>\n

For the day, the local currency opened at 50.42, stronger than the 50.69 in the previous session.<\/p>\n

It traded between 50.45 and 50.30 bringing the average to 50.34.<\/p>\n

Some USD509 million changed hands, down from the USD703.1 million at the end of last week.<\/p>\n

The trader attributed the lower volume to investors\u2019 wait-and-see stance ahead of the respective meetings of the Federal Reserve\u2019s Federal Open Market Committee (FOMC) and the Bangko Sentral ng Pilipinas\u2019 policy-making Monetary Board (MB) on Dec. 12-13 and December 14, respectively.<\/p>\n

The currency pair is seen to trade between 50.30 and 50.50 Tuesday.<\/p>\n

PSEi rose for the third day in a row after it ended Monday at 8,358.57 points, up by 0.65 percent or 53.87 points.<\/p>\n

The broader All Shares followed with a jump of 0.55 percent, or 26.59 points, to 4,885.45 points.<\/p>\n

Five of the six sectoral indices finished with gains, led by the Mining and Oil, 1.97 percent. Other gainers are the Financials, 1.59 percent; Holding Firms, 0.88 percent; Property, 0.76 percent; and Industrial, 0.15 percent.<\/p>\n

Only the Services finished on the red after it fell 1.37 percent.<\/p>\n

Volume for the day reached 923.34 million shares amounting to PHP5.85 billion.<\/p>\n

Gainers led losers at 114 to 82 while 42 shares were unchanged.\u00a0 (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA \u2014 Monday\u2019s upgrade by Fitch Ratings on the Philippines\u2019 investment grade to \u2018BBB\u2019 from \u2018BBB-\u2018 with Stable outlook lifted …<\/p>\n","protected":false},"author":33,"featured_media":11887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[7050,21171,38408],"class_list":["post-138321","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-fitch-ratings","tag-philippine-stock-exchange-index-psei","tag-philippines-investment-grade","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/138321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=138321"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/138321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/11887"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=138321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=138321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=138321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}