Peso Strengthens for 2nd Day Amid GCash IPO Buzz; PSEi Falls
The Philippine peso strengthened for a second consecutive trading day, buoyed by easing global crude oil prices and anticipation for GCash's parent company IPO. However, the local stock market declined amid concerns over slower economic growth and geopolitical risks.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- PSEi Retreats as Investors Eye GCash IPO, US Fed Rate Hike
The Philippine stock market may see a period of adjustment in the next two weeks as investors prepare capital for the upcoming IPO of e-wallet giant GCash. Analysts point to potential US Fed rate hikes as another factor contributing to market uncertainty.
- GCash IPO to Test Philippine Market's Appetite for Mega Deals, Retail Investor Inflow
The planned blockbuster listing of GCash operator Mynt Inc. could demonstrate the Philippine stock market’s capacity to absorb large equity deals and draw more retail investors into equities, according to the Securities and Exchange Commission (SEC).
- GCash Simplifies Arthaland Share Offering for Wider Filipino Investor Access
GCash, the Philippines' leading mobile wallet, has partnered with AB Capital Securities Inc. to offer easier access to Arthaland Corporation's Series G and H preferred shares through its GStocks PH platform. This initiative aims to democratize stock investing, making it more accessible for a broader segment of the Filipino population.