Philippine shares on Thursday traded neutral in relation to the slightly faster gross domestic product (GDP) growth in the second quarter, which failed to impress the market. As of 11:13 a.m., the benchmark PSEi was up 24.25 points or 0.30 percent to 8,070.84. The broader All Shares advanced by 11.08 points or 0.23 percent to 4,762.17. Investors somehow ignored the GDP data, said April Lyn Tan, vice president at online Stock brokerage firm COL Financial. "It's only slightly better than expected, not spectacular," Tan said. The economy grew by 6.5 percent in the second quarter of the year, the Philippine Statistics Authority (PSA) reported on Thursday. "The gross domestic product or GDP grew year-on-year by 6.5 percent" The main drivers were trade, renting, business, manufacturing, and real estate activities, National Statistician Lisa Grace S. Bersales said in a press briefing in Quezon City. "Services had the highest contribution in the second quarter of 2017," she said. ? VDS, GMA News
08-26-2017, 10:41 PM
Stock market ignores slightly better Q2 GDP
Philippine shares on Thursday traded neutral in relation to the slightly faster gross domestic product (GDP) growth in the second quarter, which failed to impress the market. As of 11:13 a.m., the benchmark PSEi was up 24.25 points or 0.30 percent to 8,070.84. The broader All Shares advanced by 11.08 points or 0.23 percent to 4,762.17. Investors somehow ignored the GDP data, said April Lyn Tan, vice president at online Stock brokerage firm COL Financial. "It's only slightly better than expected, not spectacular," Tan said. The economy grew by 6.5 percent in the second quarter of the year, the Philippine Statistics Authority (PSA) reported on Thursday. "The gross domestic product or GDP grew year-on-year by 6.5 percent" The main drivers were trade, renting, business, manufacturing, and real estate activities, National Statistician Lisa Grace S. Bersales said in a press briefing in Quezon City. "Services had the highest contribution in the second quarter of 2017," she said. ? VDS, GMA News
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