• 15
  • Sep
GCASH to Tap 9 Million Retailers to Invest in PSE Market, will be available in November
palaboytrader Market News No Comments

GCash  a subsidiary of Globe Telecom listed firm, Ayala group of companies and Ant Group of Alibaba, will soon offer its platform for PSE stock market investing as it is preparing its network  to be able to be tradable by this coming November.

PSE President and CEO Ramon Monzon interview with One News PH and Businessworld Live stated that PSE has partnered with the big payment platform “GCASH”.

GCASH and PSE partnership will be making stock trading available to its 67Million subscribers. PSE had already agreed on the commercial terms last Friday and currently they are doing together the technical integration. Soon GCash users will be able to directly trade or invest in the PSE stock market.

PSE is also considering buying and selling of fractional shares, much like CFD trading in international markets. We all know that some board lots or prices of stocks are on the high side.

The first phase of the agreement where anyone with Gcash account can trade in the PSE market will be handled by AB Capital as a broker in conjunction with Gcash and PSE. President Ramon Monzon have stated that by November Gcash users will then be able to execute trading.

“The Philippine Stock Exchange was organized in 1927. So, you’re talking about 95 years and we only have 1.7 million stock market investors”.

Its about time that majority of Philippine investors can gain access to the market. GCash projects more than 9 Million investors in 5 years time will take this opportunity. This will be a game changer in terms of the numbers of retail investors that can participate in the market.

  • 14
  • Sep
US Stocks Tumbles, Nasdaq drop by -5.16%, S&P500 by -4.32%
palaboytrader Market News No Comments

The inflation data released by the US yesterday is 8.3% higher by 0.1% month over month resulted to a panic selling in the stock market, the worst sell off in the market since 2020.

The Consumer Price Index (CPI) measures the change in prices paid by consumers for goods and
services. The CPI reflects spending patterns for each of two population groups all urban consumers and urban wage earners and clerical workers. The all urban consumer group represents about 93 percent of the total US population.

All US indices tumbled and drop significantly last night.

SymbolNameLast PriceChange% Change
^GSPCS&P 5003,932.69-177.72-4.32%
^DJIDow 3031,104.97-1,276.33-3.94%
^IXICNasdaq11,633.57-632.83-5.16%

The market is expecting a faster take up by the feds to raise interest rates. As we know the high CPI value release today is very persistent and investors are worried that it will cause sudden spikes in prices for basic commodities.

Tech stocks, retailers and banks were among the worst hit where the market eked out all gains from the past four days of rally.

Wall street also is quite worried that we may be in fact heading to a recession.

The last four days rally signified a confidence last time by the market that the inflation is already in control, but the results is showing otherwise.

VIX or volatility index which is a “fear” gauge for the market managed to go up by as much as 8% today. This index moves opposite to what the market is doing.

We are expecting the local markets to follow the US move.



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