FINWIRES · TerminalLIVE
FINWIRES

Philippines Business Confidence Further Drops in April as Middle East Conflict Hits

By

Philippine business confidence weakened further in April, declining for a second straight month as the Middle East conflict continued to weigh on sentiment, the Bangko Sentral ng Pilipinas said Friday.

According to the latest Business Expectations Survey, the confidence index fell to -35.8 in April from -24.3 in March, reflecting growing concerns over higher inflation, rising operating costs, and reduced household purchasing power.

While near-term sentiment softened, longer-term outlooks improved, with businesses expecting stronger demand and better economic conditions, alongside some optimism over a possible easing of geopolitical tensions, the central bank said.

Related Articles

International

Persian Gulf, Tech Outlooks Fuel Asian Stock Markets

Asian stock markets rallied on Friday, on prospects that the Strait of Hormuz may soon open to oil-tanker traffic, pursuant to a pending Iran-US ceasefire arrangement.Hong Kong and Tokyo finished in the green, while Shanghai lagged. Other regional exchanges largely gained ground, with new all-time highs set on equity indices in Seoul and Taiwan.Brent crude oil futures traded near $91.38 a barrel, off 1.3%, during Asian trading hours.In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 2.5% on media reports that Tehran and Washington have tentatively agreed to extend a ceasefire for 60 days.The benchmark Nikkei 225 rose 1,636.38 to 66,329.50, to strike a fresh all-time zenith, as gaining issues outnumbered losers 162 to 61.Leading the upside was silicon-wafer maker Sumco, up 19.3%, while Mitsubishi Motors declined 8.5%.In economic news, Tokyo's consumer price index-core (CPI-core) that strips out fresh food bills, rose 1.3% on year in May, reported the Statistics Bureau.The nation's unemployment rate fell to 2.5% in April from 2.7% in March, added officials.The nation's retail sales in April grew 2.1% on-year, and industrial production in Japan increased by 2.3% in April on year, reported the Ministry of Economy Trade & Industry (METI).In Hong Kong, the Hang Seng Index opened higher and held ground, finishing up 0.7% on strength in property issues.The broad gauge Hang Seng rose 176.23 to 25,182.39, as gaining issues outnumbered losers 64 to 25. The Hang Seng TECH Index lost 0.1% on the day, while the Mainland Properties Index rose 2%.Leading the upside was computer-maker and AI-hardware maker Lenovo, gaining 22%, while Semiconductor Manufacturing International declined 7.5%.On the mainland, the Shanghai Composite fell 0.7% to 4,068.57.On the other regional exchanges, the S. Korean KOSPI rose 3.6%; the Taiwan TWSE inclined 2.5%; the Australian ASX 200 inclined 1.6%; the Singapore Straits Times Index rose 1%, and the Thai Set was steady. In late trading in Mumbai, the Sensex was down 1.4%.The MSCI All Country Asia Pacific Index rose 1.7% on the day.

$^HSI$^N225$^SSEC
International

Thailand's Economy Expands Slowly in April As Middle East Conflict Bites

Thailand's economy softened in April from the previous month, weighed down by the impact of the Middle East conflict on tourism, the Bank of Thailand said Friday.Private consumption fell as spending on consumer goods and fuel eased following earlier front-loaded purchases, while higher energy prices affected travel and working patterns.Private investment also decreased after accelerating in the prior month. However, merchandise exports excluding gold rose across several categories, particularly technology and automotive products, though exports to the Middle East remained weak, the central bank said.The current account recorded a large deficit, mainly due to a wider trade gap from higher imports, while labor market conditions improved.Manufacturing output was broadly stable, supported by gains in automotive, rubber, and plastics production, while government expenditure expanded on higher current and capital spending, the data showed.

$^SET
International

French Jobseekers, Unemployment Claims Fall in April

The number of unemployed individuals in France fell to 3,100,100 in April from 3,109,100 in March, according to government data published Friday.Meanwhile, initial jobless claims declined by 9,000, against the 35,600 increase in the previous month.

$^SXXP