Lumaktaw sa pangunahing content

Budget passage helps shares finish up

The signing of P4.5-trillion national budget for next year, as well as window dressing, helped the stock market recover from Monday’s losses and finish 2020 in the green on Tuesday.

The bellwether Philippine Stock Exchange index (PSEi) gained 0.25 percent or 17.46 points to close at 7,139.71 while the broader All Shares added 0.43 percent or 18.34 points to end at 4,272.61.

The index’s closing figure is 76.8 percent higher than its lowest finish of 4,039.15 on March 19 and 9.5 percent lower than its highest finish of 7,890.94 on January 3.

Philstocks Financial inc. research associate Claire Alviar attributed the rally to President Rodrigo Duterte’s signing of Republic Act 11518, or the “2021 General Appropriations Act,” on December 28, boosting investor sentiment.

“There’s no more fear about [a] reenacted budget next year that may have hindered economic recovery,” Alvair said, referring to earlier concerns of a repeat of what happened to the 2019 outlay, which Malacañang only approved after four-and-a-half months after a protracted congressional dispute over alleged insertions delayed it.

The delayed passage forced the government to run on a reenacted budget, limiting it to spend for items detailed in the 2018 outlay.

The latest figures on the country’s foreign portfolio investments in November also fueled optimism, according to Alviar.

Bangko Sentral ng Pilipinas data showed on Monday that net inflows of these investments, or “hot money” — so called because of how easily they enter and exit the economy — reached $227 million last month, lower than October’s $439 million.

Meanwhile, Regina Capital Development Corp. Managing Director Luis Limlingan said shares climbed on window dressing and on US President Donald Trump’s long-awaited approval of a $900-billion coronavirus relief package cobbled by lawmakers.

The indices of local sectors were mixed, with mining and oil leading advancers at 3.16 percent. Property and services declined by 0.59 percent and 0.14 percent, respectively.

Total volume turnover was at 95.98 billion shares, valued at P11.11 billion.

Losers edged out winners, 122 to 119, with 36 securities unchanged.

WITH A REPORT FROM ANNA LEAH E. GONZALES


Source: ManilaTimes
Mga etiketa:

Mga Komento

Mag-post ng isang Komento

Mga sikat na post sa blog na ito

Canadians Abroad Roundup: Will Laryea be next Canadian in Premier League?

January was a transformative month for the Canadian men’s national team. Wins in Honduras and at home to the U.S. – coupled with the El Salvador road victory on Feb. 2 – all but guaranteed its qualification for the 2022 World Cup. Fans could start monitoring flights to Doha with relative comfort. An arguably superior development transpired that month, too. Nine Canadian-eligible players secured loans or permanent transfers to new clubs in the transfer window. Many of those moves were steps up in terms of the quality and size of the respective teams. For instance, Stephen Eustaquio joined Porto on loan with an option to buy from Pacos de Ferreira. Now he’s transitioned from mid-table obscurity to a league title and into the Champions League, provided reports are correct and he joins the Dragoes permanently. Ike Ugbo was loaned to Troyes in Ligue 1 from Genk, an admittedly big club in Belgium with a rich history. But moving to a top-five European league, especially to a club under t...
Mag-post ng isang Komento
Magbasa nang higit pa

Inflation seen to pick up in Jan

The Bangko Sentral ng Pilipinas (BSP) said on Friday the country’s headline inflation likely rose to 3.7 percent this month on higher prices of fuel, meat and sin products, and on increased power rates. A shopper checks out goods at a stall in a market on Commonwealth Avenue in Quezon City on Tuesday.PHOTO BY RUY MARTINEZ In a statement, BSP Governor Benjamin Diokno said January’s point inflation estimate was within the 3.3- to 4.1-percent forecast range of the central bank. The outlook was faster than the 3.5-percent consumer price growth in December 2020 and the 2.9 percent a year earlier. The Philippine Statistics Authority (PSA) will release official January inflation data on February 5. “Higher prices of fuel and meat, as well as increased Meralco (Manila Electric Co.) power rates and excise taxes on alcoholic beverages and tobacco, contributed to upward price pressures during the month,” Diokno said. Local oil companies hiked fuel prices three times this month. Price incr...
Mag-post ng isang Komento
Magbasa nang higit pa

Signs Of Cervical Cancer All Woman Should Know

Cervical or cervix malignancy can be risky in women. Though the statistics of this disease are shocking, if diagnosed early it can be treated. Cervical malignancy is due to the highly infectious HPV or human papillomavirus.  It is sexually transmitted and exists in different forms. A HPV infection may disappear without treatment or develop to an abnormal cell development that could cause cervical cancer. 7 Signs of Cervical Cancer Continuous pain in the legs, hips or back The swelling in the cervix may compress other organs. This may make it difficult for blood flow in the veins and may prevent blood from reaching the pelvis and legs, thus pain and swelling in the legs. Abnormal discharge When the disease starts to develop in the cervix, the uterine divider cells begin to loosen hence a watery discharge. Pain or bleeding Cervical tumor may develop on the cervix’s dividers which can dry out and eventually burst, hence distress and rectal or bladder bleeding. ...
Mag-post ng isang Komento
Magbasa nang higit pa