{"id":9920,"date":"2014-05-12T23:47:38","date_gmt":"2014-05-12T15:47:38","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=9920"},"modified":"2014-05-12T23:47:38","modified_gmt":"2014-05-12T15:47:38","slug":"profit-taking-tames-peso-local-stocks-market","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/05\/12\/profit-taking-tames-peso-local-stocks-market\/","title":{"rendered":"Profit-taking tames peso, local stocks market"},"content":{"rendered":"
\"qvist<\/a>
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MANILA (PNA) — Profit-taking resulted to a sideways close for the Philippine peso at P43.71 Monday after ending last week at its nearly six-month high of P43.65 buoyed by further upgrade of the country\u2019s investment grade rating from Standard & Poor\u2019s (S&P) Thursday.<\/p>\n

The debt watcher hiked by a notch to “BBB” with stable outlook from “BBB-” its ratings on the country Thursday last year or a year after giving the country an investment grade rating.<\/p>\n

Further upgrade of the investment grade rating was made after the credit rating agency noted the sustainability of current government reforms even into the next administration<\/p>\n

For this week, the peso opened even better at P43.67 from P43.90 start in the previous trading.<\/p>\n

It failed to strengthen during the day after investors decided to take profit. It even weakened to P43.78 mid-trade.<\/p>\n

This brought the day\u2019s average to P43.72, still better than the P43.77 at the end of last week.<\/p>\n

Volume of trade reached US$ 863.8 million, lower than the US$ 1.04 billion in the previous trading.<\/p>\n

For this week, the peso is projected to be on depreciation mode after closing strong for the past several days.<\/p>\n

For Tuesday, the local unit is expected to trade between P43.50 and P44.00.<\/p>\n

Relatively, profit-taking also affected the local bourse Monday resulting to a drop of 0.52 percent or 35.92 points to end the day at 6,811.34 points.<\/p>\n

A trader said profit-taking was the culprit for the local stock market\u2019s Monday performance, which was also partly traced to negative developments overseas.<\/p>\n

Most of the sub-indices tracked the main index except for the industrial and holding firms.<\/p>\n

Volume of trade reached 1.14 billion amounting to P8.02 billion.<\/p>\n

Gainers led losers at 89 to 86 while 46 were unchanged.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA (PNA) — Profit-taking resulted to a sideways close for the Philippine peso at P43.71 Monday after ending last week …<\/p>\n","protected":false},"author":44,"featured_media":7623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,95],"tags":[3253,3254,3252],"class_list":["post-9920","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news-ph","tag-exchange-rate","tag-finance","tag-pesos","mauthors-philippines-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/9920","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=9920"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/9920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/7623"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=9920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=9920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=9920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}