Filipino peso company after rate hike, Asian stocks fall into growth concerns

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Philippine peso settled on Thursday

After the central bank raised interest rates for the first time

For over three years, Asian stocks have fallen into concern around

Rapid inflation, impact on retail demand, and threats

Of recession.

Manila inventory fell 1%, but Philippine peso

It increased by 0.2%.The Central Bank of the Philippines

As expected, 25 basis points benchmark interest rate

Deal with rising inflationary pressures.

“Because of the recovery on hand and the surge in price pressure,

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Bangko Sentral ng Pilipinas (BSP) has finally decided to join

Rate Hike Club … The bigger development was a quick walkback

With the provisional progress of pandemic support by BSP

We’ve tweaked the bond purchase window, “said Nicholas Antonio Mapa.

Senior economist at ING.

Stocks in this area also tracked Wall Street’s weaknesses

Overnight warned by retail giant Target Corp

Margins increase due to rising fuel costs and fares

Walmart Inc has flagged a similar squeeze.

It was the worst day loss for the S & P 500 and Dow Jones

Industry average since June 2020.

“The focus is now shifting to concerns about the United States.

Growth as the Fed’s tightening is well understood and affordable

Khoon Goh, Head of Asian Studies at ANZ, said:

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“The market is currently the US economy

especially,

Negative revenue reports from retailers

Overnight, “Go said.

Indian and Taiwanese stocks

Asian markets have each fallen by more than 2%.

The US dollar has fallen, but the local currency has also fallen.

It was relaxed.Risk sentiment remained vulnerable after the U.S. federation

Reserve chair Jerome Powell has ratcheted up hawkish rhetoric.

Korean stocks fell more than 1% while the won won

Lead loss between local currencies, 0.9% skid.

Indonesian rupiah

The country announced plans to ban palm oil exports in April.

It fell by 0.3%.

Singapore’s long-term bonds,

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Safe bets and saw yields are down 45 basis points to 2.715%.

highlight:

** In the Philippines, the top index loser is SM Investments

Corp decreased by 3.45% at 840 pesos.International container

Terminal Services Inc down 1.93% at P213.6

** Thailand’s central bank said it does not need to procure

With the Fed’s interest rate after the rate hike as a domestic factor

That economic recovery will be a major issue in making decisions

policy

With Asian stock indexes

0736 GMT currency

COUNTRY FX RIC FX FX INDE STOCKS STOCKS

DAILY% YTD% X DAILY YTD%

%

Japan +0.09-10.1<.n2>

China EC>

India-0.15-4.34<.ns ei>

Indonesian-0.31-3.26<.jk a se>

Malaysia-0.26-5.47<.kl se>

Philippi +0.13-2.65<.ps nes i>

Korea 11>

Singapore +0.22-2.87<.st e i>

Taiwan-0.17-6.96<.tw ii>

Thailand +0.07-3.57<.se ti>

(Report by Riya Sharma in Bangalore, edited by Uttaresh.V)