Highlight of the Week: OFW remittances up 5.4% to $4.8 billion in Q1


Highlights of the Week: News, events and updates that are likely to affect your investments and trades in the Philippines stock market.

MANILA, Philippines - Remittances from overseas Filipino workers (OFWs) climbed by 5.4 percent in the first quarter of the year on the back of the sustained demand for skilled Filipino workers overseas, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

Shares in Philippines and Malaysia suffered their biggest daily loss in seven months on Wednesday as equity markets in southeast Asia followed a broad global selloff, touched off by worries that the euro zone's debt crisis would worsen. The Philippine index finished down 2.3 percent at 4,864.23 while Malaysia's main share index ended down 1.6 percent at 1,536.04.

WITH the local stock market heading south at a fast rate, it might be more appropriate to look at the internals of the listed companies and the macroeconomic picture of the Philippines to understand the “why” behind the drop.



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