Government bonds fell around the world after manufacturing grew more than forecast in the U.S., euro area and China. Gold sank and U.S. stocks retreated while the dollar strengthened against most major peers.
A victory by Philippine boxing hero Manny Pacquiao this weekend will probably lift stocks along with spirits in the nation reeling from one of the deadliest storms in its history, according to BDO Unibank Inc.
Philippine stocks are poised to extend the longest losing streak since March and the peso may weaken after Super Typhoon Haiyan killed an estimated 10,000 people and flooded islands, according to BDO Unibank Inc.
Robinsons Retail Holdings Inc., the largest Philippine initial public offering, retreated in its Manila debut amid concern the devastation from Super Typhoon Haiyan will weigh on Southeast Asia’s fastest-growing economy.
Philippine stocks retreated, with the benchmark index falling the most in six weeks, amid concern the devastation from Super Typhoon Haiyan will weigh on economic growth. The peso declined to a five-week low.
The Philippine peso dropped to the lowest level in a month as comments by Federal Reserve officials fueled speculation the U.S. will pare monetary stimulus. Bonds fell before a report forecast to show inflation quickened.
Philippine stocks fell, driving the benchmark index to a three-week low, as SM Investments Corp. tumbled the most in almost five years and the nation’s biggest money manager said shares are poised to decline.