{"id":145129,"date":"2018-01-10T01:26:53","date_gmt":"2018-01-10T06:26:53","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=145129"},"modified":"2018-01-10T01:26:53","modified_gmt":"2018-01-10T06:26:53","slug":"psei-hits-new-record-high-after-mondays-correction-peso-shed-anew","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/10\/psei-hits-new-record-high-after-mondays-correction-peso-shed-anew\/","title":{"rendered":"PSEi hits new record-high after Monday’s correction; peso shed anew"},"content":{"rendered":"
\"The<\/a>
The Philippine Stock Exchange index (PSEi) posted a new record-high on Tuesday after a slight correction in the previous day while the peso weakened due to strong corporate demand for the US dollar. (Shutterstock photo)<\/figcaption><\/figure>\n

MANILA — The Philippine Stock Exchange index (PSEi) posted a new record-high on Tuesday after a slight correction in the previous day while the peso weakened due to strong corporate demand for the US dollar.<\/p>\n

PSEi inched up by 2.04 percent, or 178.60 points, to 8,923.72 points, which a trader attributed to hopes for the positive impact of the government\u2019s tax reform program and the over-all optimism for the global economy.<\/p>\n

The trader said the main index\u2019 rise was in line with its peers in the Asia Pacific region due partly to the commencement of the inter-Korea peace talks.<\/p>\n

All the other indices tracked the main index, with the broader All Shares up by 1.44 percent, or 72.86 points, to 5,138.63 points.<\/p>\n

Property led the sectors with an increase of 2.40 percent, followed by the Financials, 2.24 percent; Holding Firms, 1.73 percent; Industrial, 1.17 percent; and Services, 0.82 percent.<\/p>\n

However, volume was thin at 709.37 million shares amounting to PHP8.36 billion.<\/p>\n

Gainers, meanwhile, surpassed losers at 118 to 93 while 47 shares were unchanged.<\/p>\n

On the other hand, the peso depreciated anew and shed PHP0.14\u00a0 to close the day at 50.29 from Monday\u2019s 50.15 finish.<\/p>\n

A trader said corporates picked up greenback after it weakened Monday on expectations of more rate hikes in the US.<\/p>\n

These concerns resulted in the currency\u2019s further drop Tuesday when it opened at 50.18 from 49.86 in the previous session.<\/p>\n

It traded between 50.34 and 50.15 resulting\u00a0 an average of 50.23.<\/p>\n

Volume for the day reached USD917.2 million, higher than the USD797.1 million a day ago.<\/p>\n

BDO chief strategist Jonathan Ravelas, in a tweet, said that with the local currency ending the week’s first trading day at 50.15 it is projected to hit a \u201cnear-term bottom at 49.705.\u201d<\/p>\n

\u201cExpect a move towards the 50.30\/50.50 levels in the near term,\u201d he said and for the pair to range between 50.00 and 50.25.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA — The Philippine Stock Exchange index (PSEi) posted a new record-high on Tuesday after a slight correction in the …<\/p>\n","protected":false},"author":33,"featured_media":45358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[42594,5972,12556,10516],"class_list":["post-145129","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-new-record-high","tag-peso","tag-philippine-stock-exchange-index","tag-us-dollar","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/145129","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=145129"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/145129\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/45358"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=145129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=145129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=145129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}