Oil ticks up, Wall St falls, yields rise ahead of US-China summit

The Philippine peso continued its upward momentum against the US dollar for the second straight day on Wednesday.

Share prices on the Philippine Stock Exchange (PSE) closed in the red on Wednesday, with the local bourse barometer breaking below the 5,800 level, due lingering concerns about global geopolitics amidst the Middle East crisis.

Bourse operator Hong Kong Exchanges and Clearing (HKEX) will launch yuan-denominated gold futures early next year, while the city’s de facto central bank plans to introduce more yuan products and platforms to support the diversification and digitalisation of the currency’s internationalisation, speakers at a banking summit said on Wednesday. “We have recently reactivated our gold contract in the US dollar. But in the future, perhaps sometime early next year, we will be coming up with a...

Securities and Exchange Commission (SEC) Chairman Francis Lim said he is “fervently hoping” that the GCash IPO will help generate gains for the country"s capital market.

President Ferdinand “Bongbong” Marcos Jr. is supportive of the suspension of a property tax hike following the request of the Private Sector Advisory Council (PSAC), according to Malacañang on Wednesday.

Filipino software startup BossLabs AI is looking beyond its domestic presence, setting its sights on establishing a footprint in Southeast Asia with Malaysia, Indonesia, and Thailand as its initial targets.

Filinvest Land Inc. is joining Pag-IBIG Fund"s network of partner developers for its Expanded Pambansang Pabahay para sa Pilipino Program (4PH), giving Filipino workers greater access to quality homes at more affordable prices.

Digital financial service providers, including online brokerages and digital banks that used to trumpet their “zero-branch, fully online” models, have been opening physical stores across Hong Kong recently. Analysts described it as a strategic trend aimed at enhancing brand image and service quality to capture market share, but added that the impact on the city’s retail property market would be limited. Futu Securities International (Hong Kong) opened a new global headquarters at Pacific Place...

Contemporary Amperex Technol­ogy Ltd (CATL) has cleared all regulatory hurdles for its mega factory in Hungary, a development that analysts expect will help the world’s largest producer of electric vehicle (EV) batteries extend its reach to international marques like BMW and Volkswagen. Production of battery cells at the €7.3 billion (US$8.35 billion) plant in Debrecen, the second-largest city in Hungary, began on Tuesday after it fulfilled all preconditions for a trial run, the company said. It...

The Government Service Insurance System (GSIS) on Wednesday announced expanded benefits and financial assistance to government retirees, including higher funeral benefits, stronger survivorship protections, and solar energy loans for pensioners.

The global artificial intelligence trade is staging a comeback, as a confluence of falling oil prices, Meta Platforms’ launch of a new agentic tool and anticipation surrounding the China-US leadership summit reignite investor interest in technology stocks. The Nasdaq-100 Index – where tech firms make up nearly 70 per cent of the 100 companies featured – hit an all-time high on Tuesday, surpassing the previous record set in June. In Asia, China’s chip-heavy Star Market 50 Index and South Korea’s...

Shenzhen Camsense Technologies, a maker of spatial sensors for robotic vacuum cleaners, launched a Hong Kong initial public offering (IPO) that aims to raise about HK$680 million (US$86.7 million), despite headwinds from Washington’s recent import ban on foreign-made vacuum robots. “The export and procurement for our existing client products remain normal, with potential disruption limited to new product development schedules,” Camsense co-founder Zhou Kun said about the ban’s impact. “We have...