简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Due to severe weather, Philippine forex trading remains paused, causing a drop in the stock market. The PSEi fell by 1.23%, influenced by Wall Street sell-offs and local economic concerns.
Forex trading in the Philippines remained restricted on Thursday despite the stock market's reopening. The halt was caused by extreme weather conditions, including torrential rains and floods, which put Metro Manila at a standstill.
In a post on Facebook, the Bangko Sentral ng Pilipinas (BSP) stated that trading between the US dollar and the Philippine peso, as well as other monetary activities, would be suspended for the day. The BSP also stopped currency-related transactions and PhilPaSSplus activities, which had been allowed on Wednesday.
To meet the requirements of financial institutions during the suspension, the BSP indicated that “Banks can tap the Cash Service Alliance for their currency needs.” The central bank guaranteed the public that all services will reopen on Friday.
During these disturbances, the stock market fell dramatically. The Philippine Stock Exchange index (PSEi) decreased by 82.85 points, or 1.23 per cent, to 6,670.27. The wider All Shares index also fell, losing 31.67 points (0.87 per cent) to 3,606.81.
According to Mikhail Plopenio, research and engagement officer at Philstocks Financial Inc., the drop was prompted by an overnight sell-off on Wall Street. He elaborated: “The dismal second-quarter corporate results from the tech sector contributed to the market's downturn.”
Plopenio further said that the economic effect of Super Typhoon Carina heightened investor anxieties, further dragging on the stock market. Furthermore, recent government statistics indicating a budget deficit of P209.10 billion impacted market sentiment.
Regina Capital Development Corp.'s Managing Director, Luis Limlingan, agreed, noting that “Philippine shares followed the sentiment of regional equities.” He added that Wall Street fell significantly on Wednesday due to a tech-driven sell-off, which followed dismal quarterly reporting from key tech firms such as Alphabet and Tesla.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
WikiFX, as a globally leading forex investment ecosystem service platform, has always been committed to providing fair and authoritative broker verification services for forex investors, while offering solid rights protection support for every victim of forex investment. On February 26, 2025, WikiFX once again launched its annual "3·15 Forex Rights Protection Day" event, aiming to empower forex investors to speak out and defend their rights through open, transparent, and robust means.
Nigeria’s oil and gas industry is experiencing a surge in investment, fueled by policy reforms and international collaboration, paving the way for continued energy expansion.
The global trade war is intensifying as countries continue to raise tariffs, aiming to protect their own economies while creating greater market uncertainty. In this tit-for-tat game, who is truly bearing the brunt?
Launched in 2019, Immediate Edge claims to be an automated cryptocurrency trading platform using AI technology for crypto trading services. The platform requires a minimum deposit of $250 to begin trading, which is relatively expensive for many investors. During its short operation, Immediate Edge failed to establish a positive reputation. The platform has undergone frequent domain changes and has repositioned itself as an intermediary connecting users with investment firms—a move that appears designed to obscure its actual operations. Immediate Edge restricts services to investors from the United States; it remains accessible to users in other regions.