{"id":175676,"date":"2018-08-08T04:25:58","date_gmt":"2018-08-08T08:25:58","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=175676"},"modified":"2018-08-08T04:25:58","modified_gmt":"2018-08-08T08:25:58","slug":"markets-inflation-worries","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/08\/08\/markets-inflation-worries\/","title":{"rendered":"Markets down on inflation worries"},"content":{"rendered":"
\"\"<\/a>
With this, the PSEi shed 1.17 percent, or 91.46 points, to 7,725.85 points, which a trader attributed to possible hike of the BSP\u2019s interest rates.\u00a0 (Shutterstock photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Anticipation of a fresh hike in the Bangko Sentral ng Pilipinas\u2019 (BSP) key rates later this week resulted in losses in both the Philippine Stock Exchange index (PSEi) and the Peso Tuesday.<\/p>\n

BSP\u2019s policy-making Monetary Board (MB) will have its fifth rate setting meet for the year on Thursday and it is widely expected to impose another increase in interest rates after a total of 50 basis points increase this year.<\/p>\n

With this, the PSEi shed 1.17 percent, or 91.46 points, to 7,725.85 points, which a trader attributed to possible hike of the BSP\u2019s interest rates.
\nThe trader cited a possible shift of investment from equities to bonds on possible interest rate increases.<\/p>\n

Most of the counters ended on the red, with the broader All Shares down by 0.53 percent, or 24.85 points, to 4,635.59 points.<\/p>\n

Financials registered the biggest decline among the sectors after it fell 2.01 percent and was trailed by the Holding Firms, 1.45 percent; Mining and Oil, 1.13 percent; Services, 0.66 percent; and Industrial, 0.54 percent.<\/p>\n

Only Property ended the day with gains after it rose 0.36 percent.<\/p>\n

Volume reached 1.79 billion shares amounting to PHP5.2 billion.<\/p>\n

Decliners led advancers at 103 to 99 while 38 shares were unchanged.<\/p>\n

Also, the Peso weakened to 53.00 to a dollar from 52.85 in the previous day.<\/p>\n

A trader said the local unit mirrored the PSEi, which also got a hit from the rise of inflation rate last July.<\/p>\n

Rate of price increases further rose to 5.7 percent in the seventh month this year from last June\u2019s 5.2 percent on faster inflation rate of the food and non-alcoholic beverages.<\/p>\n

To date, inflation averaged at 4.5 percent, higher than the government\u2019s 2 percent to 4 percent target.<\/p>\n

The Peso opened better at 52.85 compared to its previous start of 53.1.<\/p>\n

Its opening level is the unit\u2019s strongest level for the day while weakest is at 53.015, resulting in an average of 52.922.<\/p>\n

Volume reached USD681.5 million, lower than the USD892.9 million on Monday.<\/p>\n

The currency pair is seen to trade between 52.80 and 53.00 on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Anticipation of a fresh hike in the Bangko Sentral ng Pilipinas\u2019 (BSP) key rates later this week resulted in …<\/p>\n","protected":false},"author":33,"featured_media":45360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-175676","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/175676","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=175676"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/175676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/45360"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=175676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=175676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=175676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}