PHL financial markets close for Chinese New Year

Philippine financial markets are closed Thursday for the Lunar New Year, after Malacañang declared Feb. 19 a special nonworking holiday.

 

Financial markets in China, Indonesia, Malaysia, Singapore, Taiwan and South Korea are also closed.

 

On Wednesday, the PSEi closed to its 13th record high of 7,803.45 and after touching a new intraday high of 7,840.39.

 

Meanwhile, the peso inched higher to 44.235:$1 .from 44.245:$1.

 

Analysts said 

Philippines markets are expected to catch up with developments in foreign markets when trading resumes on Friday, a day after the US Federal Reserve would have released the minutes of its January meeting.

 

Yields on short-term US Treasuries fell by the most since August 2011 after minutes of the Federal Reserve's last meeting showed "many" members wanted to keep rates near zero for longer, Reuters reported. – Danessa O. Rivera/VS, GMA News