{"id":183084,"date":"2018-09-26T05:08:37","date_gmt":"2018-09-26T09:08:37","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=183084"},"modified":"2018-09-26T05:08:37","modified_gmt":"2018-09-26T09:08:37","slug":"overseas-trade-concerns-weaken-local-markets","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/09\/26\/overseas-trade-concerns-weaken-local-markets\/","title":{"rendered":"Overseas trade concerns weaken local markets"},"content":{"rendered":"<figure id=\"attachment_59946\" aria-describedby=\"caption-attachment-59946\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_89758564.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-59946\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_89758564.jpg\" alt=\"\" width=\"1000\" height=\"669\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_89758564.jpg 1000w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_89758564-300x201.jpg 300w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption id=\"caption-attachment-59946\" class=\"wp-caption-text\">The Philippine Stock Exchange index (PSEi) shed 1.37 percent, or 101.44 points, to 7,332.17 points. (Shutterstock photo)<\/figcaption><\/figure>\n<p><strong>MANILA<\/strong>\u00a0&#8212; Continued trade war concerns weighed heavily on the Philippines\u2019 equities and the peso on Tuesday, with the latter ending the day at its nearly 13-year low against the US dollar.<\/p>\n<p>The Philippine Stock Exchange index (PSEi) shed 1.37 percent, or 101.44 points, to 7,332.17 points.<\/p>\n<p>Landbank market economist Guian Dumalagan said the main index finish is in line with its counterparts in the region \u201cas global trade concerns and political dysfunction tested investor optimism.\u201d<\/p>\n<p>He attributed the risk-off sentiment to reports that China has decided to call off trade talks with the US.<\/p>\n<p>Another factor is the report on the possible removal of an official overseeing the investigation on allegations of Russian interference in the 2016 US presidential election, he said.<\/p>\n<p>Investors decided to stay on the sidelines and monitor developments.<\/p>\n<p>Thus, all the other counters tracked the PSEi, with the broader All Shares down by 0.81 percent, or 36.62 points, to 4,494.90 points.<\/p>\n<p>Property led the sectors with a 2.40 percent decline and was followed by Financials, 1.85 percent; Services, 0.91 percent; Holding Firms, 0.49 percent; Mining and Oil, 0.40 percent; and Industrial, 0.38 percent.<\/p>\n<p>Volume was thin at 612.44 million shares amounting to PHP3.5 billion.<br \/>\nLosers led gainers at 99 to 81 while 55 shares were unchanged.<\/p>\n<p>The peso also closed at 54.31 to<br \/>\nthe dollar, weaker than its 54.23 finish Monday and weakest after the 54.425 on November 22, 2005.<\/p>\n<p>A trader pointed this weakness to trade concerns as the world\u2019s two largest economies continue to have tariff issues.<\/p>\n<p>For the day, the Peso opened at 54.245, down from 54.12 a day ago.<br \/>\nIts opening level is the unit\u2019s strongest for the day after dipping to 54.35, resulting in an average of 54.342.<br \/>\nVolume reached USD668.35 million, lower than the USD670.6 million a day ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0&#8212; Continued trade war concerns weighed heavily on the Philippines\u2019 equities and the peso on Tuesday, with the latter ending &hellip;<\/p>\n","protected":false},"author":33,"featured_media":59946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,43],"tags":[],"class_list":["post-183084","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\/183084","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=183084"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/183084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/59946"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=183084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=183084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=183084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}