Asian markets closed for holiday

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Financial markets in China, Hong Kong, India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand were closed on Monday, May 1, for a public holiday.

On the last trading day last week in the Philippines, Thursday, the benchmark Philippine Stock Exchange index (PSEi) closed down 0.85 percent, or 65.44 points at 7,661.01. All indices across the board finished in the red.
The Philippine peso finished weaker at P49.95:$1 against Wednesday’s P49.78:$1.

Trading will resume today, Tuesday. The local market is expected to trade in positive territory after the Philippines managed to stage a successful 30th Association of Southeast Asian Nations Summit, but with warnings from analysts to approach the market with caution amid continuing North Korea tensions and more numbers due out soon.

More corporate earnings for the first quarter, as well as economic indicators such as inflation data, are due for release later in the week.


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