{"id":196450,"date":"2019-01-05T05:10:51","date_gmt":"2019-01-05T10:10:51","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=196450"},"modified":"2025-01-07T16:15:45","modified_gmt":"2025-01-07T21:15:45","slug":"local-markets-benefiting-from-inflation-decline","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2019\/01\/05\/local-markets-benefiting-from-inflation-decline\/","title":{"rendered":"Local markets benefiting from inflation decline"},"content":{"rendered":"
\"\"<\/a>
It was able to improve to as much as its closing level while the weakest stood at 52.63. This brought the day\u2019s average to 52.56. (SHUTTERSTOCK PHOTO)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— The deceleration of the country’s December 2018 inflation rate to 5.1 percent from month-ago\u2019s six percent, reportedly helped both the peso and the main equities gauge to finish the week on a high note.<\/p>\n

The local currency ended the shortened trading week at 52.51 against the greenback, PHP0.14 better than its 52.65 finish Thursday.<\/p>\n

BDO chief market strategist Jonathan Ravelas said the peso remained range-bound in this year\u2019s first trading week after ranging between 52.50-52.75 to a US dollar.<\/p>\n

Since trading for the year started last Wednesday, the peso strengthened by 0.13 percent week-on-week, he said.<\/p>\n

On Friday, the local unit opened at 52.62, weaker than its 52.55 start in the previous session.<\/p>\n

It was able to improve to as much as its closing level while the weakest stood at 52.63. This brought the day\u2019s average to 52.56.<\/p>\n

Volume reached USD684.95 million, lower than the US797.<\/p>\n

buy flomax online https:\/\/cosmeticdermcenter.com\/wp-content\/uploads\/2024\/08\/jpg\/flomax.html<\/a> no prescription pharmacy <\/div>\n

5 million a day ago.<\/p>\n

Ravelas said the local unit\u2019s close this week \u201csignal(s) (that) strong support exists at the 52.50 levels.\u201d<\/p>\n

He also sees the possibility for of peso improving to as much as 52.00 to a dollar but also noted a pull towards the 53.00 level if the unit touches 52.75.<\/p>\n

\u201cOnly a break below 52.500 will trigger tests towards the 52.00\/52.25 level,\u201d he said.<\/p>\n

Relatively, the Philippine Stock Exchange index (PSEi) went up to 7,761.11 points, an increase of 1.05 percent or 80.51 points from Thursday.<\/p>\n

All the other counters tracked the main index, with the broader All Shares up by 0.<\/p>\n

buy super cialis online https:\/\/cosmeticdermcenter.com\/wp-content\/uploads\/2024\/08\/jpg\/super-cialis.html<\/a> no prescription pharmacy <\/div>\n

92 percent, or 42.31 points, to 4,652.59 points.<\/p>\n

Mining and Oil led the sectors with a 2.25 percent hike and was trailed by the Industrial, 2.14 points; Property, 1.88 percent; Financials, 0.62 percent; Holding Firms, 0.49 percent; and Services, 0.42 percent.<\/p>\n

Volume went up to 1.96 billion shares amounting to PHP9.04 billion.<\/p>\n

Gainers led losers at 141 to 63 while 39 points were unchanged.<\/p>\n

Ravelas said the PSEi improved by 3.95 percent week-on-week \u201cas investors are betting Philippine equities could still do well amid expectations of cooling inflation and Wall Street\u2019s volatility.<\/p>\n

buy desyrel online https:\/\/cosmeticdermcenter.com\/wp-content\/uploads\/2024\/08\/jpg\/desyrel.html<\/a> no prescription pharmacy <\/div>\n

\u201d<\/p>\n

\u201cInvestors are buying blue chips that will benefit from a possible reversal of foreign inflows and positioning in stocks that will gain as inflation eases,\u201d he said.<\/p>\n

The Philippine Statistics Authority (PSA) on Friday reported the sustained slowdown of inflation rate in the last month this year from last November\u2019s six percent.<\/p>\n

Average inflation in 2018 stood at 5.2 percent, higher than the government\u2019s 2 to 4 percent target for 2018-2020.<\/p>\n

However, monetary officials sees within-target average inflation rate this year and the next as supply-side issues have been addressed.<\/p>\n

Thus, Ravelas forecasts the PSEi to go up to 8,000-level after touching the 7,800-level this week.<\/p>\n

\u201cHowever, failure to clear the 7,800 levels could trigger some profit taking back towards the 7,300\/7,500 levels,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— The deceleration of the country’s December 2018 inflation rate to 5.1 percent from month-ago\u2019s six percent, reportedly helped both …<\/p>\n","protected":false},"author":44,"featured_media":26472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-196450","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\/196450","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=196450"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/196450\/revisions"}],"predecessor-version":[{"id":280306,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/196450\/revisions\/280306"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/26472"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=196450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=196450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=196450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}