Stocks fall amid worries over Middle East conflict
Stocks fell Thursday over mounting worries over the Middle East conflict and the rise in US Treasury yields.
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Stocks fell Thursday over mounting worries over the Middle East conflict and the rise in US Treasury yields.
MANILA, Philippines — Share prices sustained their climb for a second consecutive session as investors continued their bargain hunting while waiting for the Bangko Sentral ng Pilipinas (BSP) meeting this week.
THE peso arrested its fall on Monday but stayed at an over 19-month low while the stock market snapped an eight-day decline to edge higher.
THE peso and the stock market ended the week on a sour note with both hitting multi-month lows amid a continued lack of positive catalysts.
MANILA, Philippines — Share prices plunged for a fourth consecutive session on investor concerns over the direction of interest rates.
THE peso hit a 19-month low on Monday while the stock market managed a positive start to the week as investors hunted for bargains.
THE peso and stock market both closed the week on a negative note, with the currency snapping a three-day winning streak and the bourse threatening a return to the 6,500 level.
THE stock market ended lower week on week following a mixed performance since Monday, with the benchmark index nearing the support level of 6,400 after declining for the second day in a row, with the peso likewise losing against the greenback on Friday.
THE stock market remained in the red amid inflation concerns, while the Philippine currency ended the week stronger against the greenback on Friday.