Philippine Peso drops most in nine months on stocks loss

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Source: Bloomberg
© Scanpix/Reuters
The Peso lost 1.1% this week to 41.635 per U.S. Dollar by midday trading session in Manila on Friday. The Peso made the biggest weekly drop in nine months, as some investors cashed out some profit pushing stocks lower. Generally, traders are concerned about the Federal Reserve monetary easing programme, as a suspension of it would possibly lead to capital outflows from emerging markets, including Philippine.
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Fri, 24 May 2013 08:49:04 GMT

Chinese stocks rebound after yesterday's drop

The Shanghai Composite Index advanced 0.5% so far today, recovering from the biggest drop in a month yesterday. The gain was lead by a surge in technology and health-care stocks while property developers' shares prices decreased further. The fall in stock prices yesterday was caused by contracting Chinese manufacturing and bad sentiment, which came after yesterday's dip in Japanese stocks.

Fri, 24 May 2013 08:27:05 GMT

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