PSEi sinks below 5,900 on rising yields, oil prices

Cebu-based passenger and cargo services company Aznar Shipping Corp. is planning to conduct an initial public offering (IPO) to raise funds to bankroll its fleet expansion and proposed shipyard project.

The Philippine peso softened against the US dollar after three straight trading days of appreciation, as the greenback was buoyed by the Federal Reserve"s decision to hike rates. The local currency shed 1.9 centavos to close Friday at P62.749:$1 from Thursday"s finish of P62.73:$1.

Philippine shares closed in the red on Friday, with the local stock barometer sliding to 5,800 level, as investors sold positions after a rebalancing of the Financial Times Stock Exchange (FTSE) and the continued sour sentiment amid the ongoing Middle East fuel crisis.

China has set its sights on becoming a global biomedicine powerhouse by 2030, targeting key technological breakthroughs and at least a quarter of the world’s first-in-class drugs market under a new five-year plan for the sector. By the end of the decade, China would “firmly rank at the global forefront” in biopharmaceutical research and development and applications, with its “core competitiveness” and international influence making a significant leap, authorities said on Friday. The biomedical...

The US Federal Reserve raised its benchmark interest rate by a quarter of a percentage point this week, followed by the Hong Kong Monetary Authority and the Bank of Japan, while the 10-year US Treasury yield fell back below 5 per cent. Here are some of the figures that have drawn the most market attention this week. Fed raises interest rates for first time since 2023 The US Federal Open Market Committee voted unanimously on Thursday to raise rates by 25 basis points to a target range of 3.75 to...

Senior bankers at HSBC are facing a double blow of losing a key employment benefit while also confronting potential job losses as the lender carries out a range of measures to cut costs and achieve fair treatment for all staff, according to sources. HSBC, the biggest lender in Hong Kong, will scrap an education subsidy programme for all newly hired or newly promoted senior executives from Friday, according to an internal memo seen by the South China Morning Post. Employees who were already in...

The Government Service Insurance System (GSIS) on Friday announced an increase in its emergency loan assistance for members and pensioners affected by the recent typhoons and the enhanced Southwest Monsoon, or Habagat, to nearly P8 billion.

The planned maiden listing of fintech giant Mynt Inc., the parent company of GCash, on the local bourse is now all set after it secured the nod of the Philippine Stock Exchange Inc. (PSE).

Thailand's health ministry plans to establish a central healthcare marketplace, attract foreign patients through flexible medical visas, and partner with global pharmaceutical companies for clinical research and manufacturing investments to strengthen its healthcare system and economy.

The scheduled initial public offering (IPO) of GCash parent Mynt Inc. could give the Philippine capital market a significant boost, Galing sa Puso (GP) Party-list Rep. Jan “JP” Padiernos

Amid continuing geopolitical tensions and market uncertainty, greater use of the yuan for international trade settlements, raising funds, managing liquidity and allocating investments is a logical strategy for executives overseeing treasury and finance functions. At the end of 2025, the People’s Bank of China (PBOC) had bilateral currency-swap agreements with more than 30 countries and regions, with an aggregate value in excess of 4.3 trillion yuan (US$641 billion), confirming ever-wider...

Yesterday in Shanghai, more than 30 business leaders and investors from mainland China and Hong Kong gathered at a South China Morning Post C-Suite roundtable on “The Capital Lifecycle of the Healthcare Sector: From Seed to Post-Listing” held alongside BioShanghai Week 2026. The event, supported by IHH Healthcare North Asia, featured guest speakers Nisa Leung, founding managing partner of Aulis Capital, and Dr Kenneth Tsang, regional chief executive officer of IHH Healthcare North Asia. One...