JG Summit Holdings Inc., the flagship of the Gokongwei Group, has announced the shutdown of its petrochemical business, JG Summit Olefins Corporation (JGSOC), due to substantial losses incurred amid challenging market conditions. In a statement, JGSOC said, "Given persisting unfavorable market...
A lack of fresh leads is expected to keep the local stock market bearish this week, but bargain hunters may find opportunities as prices reach a seven-month low. “The local market has turned more bearish last week as it extended its decline. At the same time, the market has broken below the 6,400...
The local stock market will be looking forward to the release of US December inflation figures for cues although sentiment has already been dampened by expectations that the Federal Reserve will be less aggressive in cutting policy rates. With the market having difficulty maintaining a solid...
The release of the December 2024 inflation numbers will heavily influence the local stock market this week as trading volume normalizes with traders returning from the holidays. “Eyes are going to be on the Philippines’ December inflation data as this will provide clues on the Bangko Sentral ng...
Investor sentiment in the local stock market is expected to remain bearish this week due to prospects of fewer rate cuts in 2025, a weakening peso, and concerns related to the government’s budget for next year. "The local market is turning more bearish as it extended its decline last week," said...
JG Summit Holdings Inc., the flagship of the Gokongwei Group, is planning a temporary shutdown of its petrochemical business in the hope of reducing its operational losses. “Management noted that the petrochemical industry continues to face significant challenges, marked by continued softness in...
The local stock market is expected to move sideways this week as stocks are at bargain levels, but negative sentiment ahead of inflation data could still impact prices. “With the market at attractive levels, we may see some instances of bargain hunting. However, we expect lingering concerns to...
Despite stock prices falling to bargain levels, the market remains bearish amid concerns about the weaker peso, potential US interest rate cuts, and US policies under the new political leadership. “The local market’s technical indicators continue to show a bearish bias, with the bourse falling...
The local stock market continues its bearish trend, breaking below the 7,000 support line, but, cheaper prices and the prospect of a rate cut may encourage buying activity while investors await foreign direct investment and remittance data. "Foreign funds have been exiting the market, and technical...
While the recent market decline has brought share prices to attractive levels which may spark some bargain-hunting, stock market investors are seen to be wary due to the US elections and the release of the October inflation data. “The local market has exhibited bearish movements in last week’s...
Local stock market bulls will be looking at the start of the earnings season for more steam to continue its run after hitting a wall at the 7,400 to 7,500 as the weakening of the Peso together with offshore uncertainties weigh on sentiment. “With the local market still deemed to be attractive, we...
The two recent rate cuts by the Bangko Sentral ng Pilipinas (BSP) amounting to 50 basis points is not expected to affect the earnings of banks until the middle of 2025 although the sector has been outperforming in the local stock market. “The banking sector continued to outperform the market,...
