Latest news with #PSEi
GMA Network
08-08-2025
- Business
- GMA Network
PSE shakes up bellwether: DigiPlus in, Bloomberry out
For the bellwether PSEi, the major change was the inclusion of online betting giant DigiPlus Interactive Corp., replacing casino-resort Solaire's operator Bloomberry Resorts Corp. Local bourse operator Philippine Stock Exchange Inc. on Friday announced changes in the composition of the stock market's indices, including the PSE index (PSEi) —the local stock barometer. In a memorandum dated August 8, 2025, the PSE revealed the results of its regular review of the PSEi, sectoral, PSE Dividend Yield, and PSE MidCap indices covering the trading activity period from July 2024 to June 2025. For the bellwether PSEi, the major change was the inclusion of online betting giant DigiPlus Interactive Corp., replacing casino-resort Solaire's operator Bloomberry Resorts Corp. 'Joining the PSE Index is more than a corporate milestone for us at DigiPlus. It's a powerful statement that homegrown Filipino companies can lead in the digital age," DigiPlus chairman Eusebio Tanco said in a statement. "We've created a new kind of digital entertainment company, one that doesn't just catch up on trends, but pioneers platforms that resonate with real people,' he added. The changes in the composition of the PSEi will take effect on August 18, 2025. To qualify for inclusion in the PSEi, a listed firm should be among the top companies in terms of liquidity and market capitalization. The PSEi is the main index of the PSE, composed of 30 companies, which provides an overview of the stock market's overall health by gauging changes in the share prices of the select listed firms. The local stock market review also resulted in changes in other indices, such as the PSE Dividend Yield and PSE MidCap indices. Now included in the PSE Dividend Yield index were liquor distributor The Keepers Holdings Inc. and Puregold Price Club Inc., replacing restaurant chain Figaro Culinary Group and Gokongwei-led snacks and beverages maker Universal Robina Corp. Added to the PSE MidCap index were Asia United Bank, Bloomberry, OceanaGold (Philippines) Inc., replacing GMA Network Inc., Petron Corp., and DigiPlus. The PSE Dividend Yield index, composed of 20 listed firms, focuses on companies that consistently give high-yielding dividends. Companies in this index are selected based on liquidity and three-year average dividend yield performance. The PSE MidCap index, also composed of 20 companies, is designed to provide a snapshot of the performance of mid-sized companies in the Philippine market. For the sectoral indices —namely Financials, Industrial, Holding Firms, Property, Services, and Mining and Oil— the PSE also announced composition changes. For the Financials index, the local bourse operator said it added National Reinsurance Corp. For the Industrial index, the PSE added Concepcion Industrial Corp., Citicore Renewable Energy Corp., and Vitarich Corp., while removing Basic Energy Corp., EEI Corp., and Max's Group Inc. Added to the Holding Firms index was ATN Holding Inc. No change was effected on the Property index, while the Services index saw the removal of Pacific Online Systems Corp. For the Mining and Oil index, the PSE included Lepanto Consolidated Mining Company and OceanaGold (Philippines). –NB, GMA Integrated News
Yahoo
01-07-2025
- Automotive
- Yahoo
Asian shares are mostly higher, tracking US rally into record heights
MANILA, Philippines (AP) — Asian shares are mostly higher after U.S. stocks added to their records with the close of a second straight winning month. U.S. futures and oil prices were lower. Japan's Nikkei 225 fell 1.2% to 40,003.24 despite positive results of the central bank's quarterly Tankan survey of large manufacturers, which showed an better than expected improvement in business sentiment. The Shanghai Composite index added 0.2% to 3,451.69 after China's official manufacturing purchasing managers index, or PMI, rose to a three-month high of 49.7 in June while the PMI for services and other non-manufacturing businesses also rose to a three-month high of 50.5. Hong Kong's stock market was closed on Tuesday. South Korea's KOSPI Composite Index surged 1.5% to 3,117.17 after the government reported that exports bounced back in June, helped by strong demand for semiconductors, ships and health products. 'Automobile and automotive parts exports also gained. Strong electric vehicle exports to the EU and solid used-car exports partially offset the decline of U.S. exports. However, we expect auto exports to remain soft due to tariffs and increased production in the U.S.,' Min Joo Kang of ING Economics said in a report. Australia's S&P/ASX 200 edged up 0.1% to 8,550.80. The PSEi in Manila, Philippines, rose 0.2%. On Monday, Wall Street resumed its upward climb. The S&P 500 rose 0.5% to 6,204.95. It has staged a stunning recovery from its springtime sell-off of roughly 20%. The Dow Jones Industrial Average added 0.6% to 44,094.77, and the Nasdaq composite gained 0.5% to 20,369.73. Stocks got a boost after Canada said it would rescind a planned tax on U.S. technology firms and trade talks with the United States resumed. On Friday, U.S. President Donald Trump had said he was suspending those talks to retaliate for the tax, calling it 'a direct and blatant attack on our country.' U.S. stocks have bounced back on hopes that Trump will reach deals with other countries to lower his painful high tariffs and avert trade wars that could stifle the economy and send inflation higher. Many of Trump's announced tariffs have been postponed and are due to kick back into effect on July 9. The U.S. stock market recovery could raise the risk Trump will resume escalating tariffs, similar to what happened in 2018-2019, according to strategists at Deutsche Bank led by Parag Thatte and Binky Chadha. On Wall Street, Oracle's 4% rise was one of the strongest forces lifting the S&P 500. CEO Safra Catz said the tech giant 'is off to a strong start' in its fiscal year and that it signed multiple large cloud services agreements, including one that could contribute over $30 billion in annual revenue two fiscal years from now. GMS' stock jumped 11.7% after the supplier of specialty building products said it agreed to sell itself to a Home Depot subsidiary in a deal that would pay $110.00 per share in cash. That would give it a total value of roughly $5.5 billion, including debt. Less than two weeks ago, another company, QXO, said it was offering to buy GMS for $95.20 per share in cash. After the announcement of the Home Depot bid, QXO's stock rose 3.9%, and Home Depot's stock slipped 0.6%. Hewlett Packard Enterprise rallied 11.1% and Juniper Networks climbed 8.4% after saying they had reached an agreement with the U.S. Department of Justice that could clear the way for their merger go through, subject to court approval. HPE is trying to buy Juniper in a $14 billion deal. Bank stocks were also solid after the Federal Reserve said on Friday that they are financially strong enough to survive a downturn in the economy. JPMorgan Chase climbed 1%, and Citigroup gained 0.9%. In the bond market, Treasury yields fell ahead of several major economic reports later in the week. The highlight will be Thursday's jobs report. It's often the most anticipated economic data of each month, and it will come a day earlier than usual because of Friday's Fourth of July holiday. In other dealings early Tuesday, benchmark U.S. crude oil lost 37 cents to $64.74 per barrel, while Brent crude, the international standard, fell 35 cents per barrel to $66.39. The U.S. dollar dipped to 143.86 Japanese yen from 144.04 yen. The euro rose to $1.1792 from $1.1789. ___ AP Business Writer Stan Choe contributed. Sign in to access your portfolio
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Business Standard
23-05-2025
- Business
- Business Standard
Indices end week 0.7% lower amid FPI selling, US bond yield pressure
The benchmark indices ended the week with minor losses amid heavy selling by foreign portfolio investors (FPIs), driven by concerns over the US fiscal outlook and rising bond yields. For the week, both the Sensex and Nifty declined by 0.7 per cent. This comes after the indices recorded their best weekly run since 18 April last week, as investors welcomed a truce with Pakistan, trade talks with the United States (US), and expectations of domestic interest rate cuts. The indices, however, gained on Friday amid easing US bond yields and were the best-performing Asian equity benchmarks after the Philippines' PSEi index. The Sensex ended Friday's session at 81,721, up 769 points or 0.95 per cent. The Nifty closed at 24,835, a gain of 244 points or 0.9 per cent. The total market capitalisation of BSE-listed firms rose by ₹3 trillion to ₹442 trillion. The rupee appreciated by 0.9 per cent on Friday — its highest single-day gain since 11 November 2022 — to settle at 85.21 per US dollar. Long-dated US bond yields eased over the past two sessions after rising earlier in the week. The 30-year US bond yield, which had hit its highest level since October 2023, declined on Friday to 4.98 per cent. The 10-year yield was at 4.45 per cent, down seven basis points. Rising yields make US bonds more attractive and often prompt FPIs to withdraw from emerging markets, including India. Safe-haven assets such as bonds gained earlier in the week as investors fretted over the impact of former US President Donald Trump's tax bill. Gold posted its best weekly gains since 11 April, trading at $3,353 per ounce. Trump's tax-and-spending bill, which fulfils several populist promises, is expected to add about $3.8 trillion to the US government's $36.2 trillion debt over the next decade. Concerns about this rising debt led to a credit rating downgrade by Moody's last week. In the final leg of the earnings season, US trade policy and the monsoon outlook are expected to influence market direction. Meanwhile, Trump has threatened to impose a 50 per cent tariff on goods from the European Union (EU) starting in June — a reminder that trade tensions remain high and can disrupt equity markets quickly. 'The ongoing earnings season is entering its final phase next week, with investors closely tracking corporate performance across sectors. Meanwhile, the arrival of pre-monsoon showers across parts of India lifted market sentiment ahead of an anticipated above-normal monsoon, which is expected to support rural demand and broader economic activity. Looking ahead, markets are expected to remain firm, with participation likely from broader market segments as macro and earnings tailwinds continue to provide support,' said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services. Market breadth was strong on Friday, with 2,323 stocks advancing and 1,639 declining. Reliance Industries, which rose 1.2 per cent, was the biggest contributor to Sensex gains, followed by HDFC Bank, which gained 0.7 per cent. 'The rebound reflects positive sentiment despite mixed global cues, as participants are using dips to accumulate quality stocks across sectors. We maintain our view of adopting a 'buy on dips' strategy, focusing on selective stock picking unless the Nifty decisively breaks below the 24,500 mark,' said Ajit Mishra, SVP – Research, Religare Broking.
