Philippine Markets Rally on Fed Rate Pause, Peso Recovers
Philippine financial markets experienced a relief rally following the US Federal Reserve's decision to hold interest rates steady. The PSEi climbed, and the peso strengthened against the dollar. However, domestic inflation concerns continue to pose risks to the market outlook.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- PSEi Rebounds to 5,705 on Bargain Hunting
The Philippine Stock Exchange Index (PSEi) rebounded on Thursday, driven by bargain hunting after a previous day's decline. Gains on Wall Street also bolstered sentiment, pushing the benchmark index up 0.92 percent to close at 5,705.58 points. Investors cautiously bought back shares amid lingering inflation fears.
- Peso Rebounds, But External Pressures Remain Unresolved
The Philippine peso rebounded to P64.025 per US dollar on Wednesday following President Marcos's signal of support for the currency. However, underlying pressures such as inflation and increased import costs remain, leaving external pressures unresolved.
- Philippine Biz Groups Urge Purge of Dubious Insertions in 2027 Budget
Major business and civil society groups in the Philippines are urging Congress to remove budget insertions lacking technical justification from the proposed 2027 national budget, aiming to prevent a recurrence of 'ghost' projects and substandard infrastructure.
- Marcos's 'Don't Panic' on Peso Called Posturing as Analysts Predict Further Slide
As the Philippine peso hits an all-time low against the dollar, President Ferdinand Marcos Jr.'s 'Don't panic' remark is criticized as mere posturing. Economic analysts predict further depreciation of the peso, raising questions about the administration's economic management.