{"id":143689,"date":"2018-01-04T03:01:40","date_gmt":"2018-01-04T08:01:40","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=143689"},"modified":"2018-01-04T03:01:40","modified_gmt":"2018-01-04T08:01:40","slug":"psei-peso-start-2018-with-a-bang","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/04\/psei-peso-start-2018-with-a-bang\/","title":{"rendered":"PSEi, peso start 2018 with a bang"},"content":{"rendered":"
\"First<\/a>
First trading day at the Philippine Stock Exchange on January 3, 2018. (PNA photo by Ben Briones)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Foreign funds continue to pour into the Philippines\u2019 equities market, boosting not only the main index but also the peso on Wednesday.<\/p>\n

The Philippine Stock Exchange index (PSEi) finished at 8,724.13 points, up 1.94 percent or 165.71 points Wednesday, the first trading day of 2018.<\/p>\n

A trader pointed this to investors\u2019 sentiment on the domestic economy due in part to the implementation of the first part of tax reform program\u2019s Package 1 starting this month.<\/p>\n

The trader said investors expressed hopes that the tax reform program would further improve the government\u2019s capacity to fund its infrastructure program, among others, and further improve its growth prospects.<\/p>\n

With views remaining up, all the other indices tracked the main gauge with the broader All Shares rising by 1.30 percent, or 64.68 points, to 5,054.65 points.<\/p>\n

Holding Firms led the sectors with a 2.95 percent increased followed by the Property, 2.27 percent; Services, 1.05 percent; Mining and Oil, 0.84 percent; Industrial, 0.61 percent; and Financials, 0.47 percent.<\/p>\n

Volume for the day reached 712.83 million shares amounting to PHP7.29 billion.<\/p>\n

Gainers led losers at 118 to 102 while 38 shares remained unchanged.<\/p>\n

The peso ended the trading at 49.81, way better than its 49.93 close on Dec. 29, 2017.<\/p>\n

Its latest close was the local unit\u2019s strongest after its 49.63 finish on June 15, 2017.<\/p>\n

The trader said the peso benefits from the positive outlook on the economy even as investors remain expectant for more increases in the Federal Reserve\u2019s key rates this year.<\/p>\n

The peso\u2019s strength showed early on after the unit opened the year\u2019s trading at 49.80 from 49.90 in the last trading day of 2017.<\/p>\n

It ranged between its opening level and 49.92 resulting to an average of 49.85.<\/p>\n

Volume totaled to USD634.2 million, lower than the USD742.2 million.<\/p>\n

The trader expects the currency pair to trade between 49.80 and 50.00 Thursday.\u00a0(PNA)<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Foreign funds continue to pour into the Philippines\u2019 equities market, boosting not only the main index but also the …<\/p>\n","protected":false},"author":33,"featured_media":143690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[14652,5972,929],"class_list":["post-143689","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-federal-reserve","tag-peso","tag-psei","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/143689","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=143689"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/143689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/143690"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=143689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=143689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=143689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}