{"id":173220,"date":"2018-07-25T21:50:08","date_gmt":"2018-07-26T01:50:08","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=173220"},"modified":"2018-07-25T21:50:08","modified_gmt":"2018-07-26T01:50:08","slug":"peso-local-shares-rise-imfs-robust-eco-outlook-ph","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/07\/25\/peso-local-shares-rise-imfs-robust-eco-outlook-ph\/","title":{"rendered":"Peso, local shares rise on IMF’s robust eco outlook on PH"},"content":{"rendered":"
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PSEi rose for the second day in a row, with the day\u2019s uptick at 0.90 percent, or 66.98 points, to 7,514.00 points. (Shutterstock photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— International Monetary Fund\u2019s (IMF) positive outlook on the Philippine economy buoyed both the Philippine Stock Exchange index (PSEi) and the peso Wednesday.<\/p>\n

PSEi rose for the second day in a row, with the day\u2019s uptick at 0.90 percent, or 66.98 points, to 7,514.00 points.<\/p>\n

A trader cited the IMF\u2019s announcement during the day about its 6.7 percent growth projection for the country for this and next year as a plus for local equities.<\/p>\n

IMF\u2019s 2018-19 growth forecast for the country this year and next year is the same as economy\u2019s 2017 output but lower than the government\u2019s seven to eight percent target for 2018-22.<\/p>\n

The trader said IMF\u2019s growth projection for the country assured investors that the domestic economy remains strong amid rising risks coming from inflation as a result of increase in the prices of oil and commodities and of domestic demand.<\/p>\n

With domestic prospects still up, most of the other counters also ended the day with gains.<\/p>\n

The broader All Shares went up by 0.67 percent, or 30.30 points, to 4,535.53 points.<\/p>\n

Sectoral indices were led by the Financials, 2.38 percent; and was followed by the Services, 1.12 percent; Holding Firms, 1.03 percent; and Property, 0.58 percent.<\/p>\n

On the other hand, Mining and Oil fell 0.74 percent and Industrial by 0.43 percent.<\/p>\n

Volume reached 1.4 billion shares amounting to Php6.9 billion.<\/p>\n

Gainers led losers at 125 to 72 while 46 shares were unchanged.<\/p>\n

At the same time, the peso finished the day at 53.37 from day-ago\u2019s 53.42.<\/p>\n

It opened the day at 53.32, way better than the previous session\u2019s 53.54.<\/p>\n

Its opening level is the local unit\u2019s strongest for the day while weakest is 53.43 resulting to an average of 53.38.<\/p>\n

Volume for the day reached USD557.1 million, down from USD668.1 a day ago.<\/p>\n

The currency pair is seen to trade between 53.30 and 53.50 Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— International Monetary Fund\u2019s (IMF) positive outlook on the Philippine economy buoyed both the Philippine Stock Exchange index (PSEi) and …<\/p>\n","protected":false},"author":33,"featured_media":45359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,43],"tags":[],"class_list":["post-173220","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-stock-markets","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/173220","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=173220"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/173220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/45359"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=173220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=173220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=173220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}