Markets

Manulife has secured approval from the Toronto Stock Exchange for a normal course issuer bid, allowing the insurance company to buy back and cancel up to 42 million of its common shares. Outside Canada and the U.S., Manulife said it may undertake similar buybacks in other markets where it is listed, such as the Philippine Stock Exchange, in compliance with local regulations.

Shares of General Mills tumbled 7 percent Tuesday after the Cheerios maker slashed its full-year sales and profit outlook, blaming stubborn inflation and a “challenging” consumer backdrop for squeezing volumes.

The Philippine Stock Exchange index (PSEi) slid 1.3 percent to 6,384.58, extending profit-taking for a second session after touching seven- to nine-month highs. Even so, the benchmark remains comfortably above the 6,000 mark, keeping the broader uptrend intact and suggesting the pullback is more consolidation than reversal.

Barbie wasn’t in the mood to celebrate — even if Ken showed up with Hot Wheels and the Teenage Mutant Ninja Turtles. Investors weren’t feeling festive either.

Global markets are taking a step back—not because of panic, but caution. Investors are reducing risk as they navigate uncertainty around inflation, interest rates, and global tensions.