The local stock market is seen to continue consolidating at current levels although sentiment appears to be more bullish with the PSEi rising 1.55 percent in the first trading week of the new year.
“The market has been able to maintain its position above the 6,600 level (a previous resistance) and
The new trading year is seen to start with its traditional burst of optimism but whether this will be sustained will depend on domestic and global economic developments starting with the Philippines’ December 2022 inflation report this week.
“In the last 5 years, from the previous year’s close to
The local stock market continued to drop on worries over a possible recession in the US.
The main index lost 82.23 points or 1.27 percent to close at 6,414.27 with the retreat led by the Services sector, mainly due to PLDT’s plunge, with only the Property counter advancing. Volume jumped to 1.31 b
While local stock market players usually hope for a “Santa Claus rally” before the end of the year, the outlook for this week seems gloomy as US bourses continued to drop.
Market pundits are hoping fund managers will start window-dressing stocks in their portfolio to come up with a rosier picture
The local stock market will be taking cues this week from the result of the last meeting of the US Federal Reserve to see if it will start tempering its previously aggressive rate hikes.
“Last week, the local bourse staged a 1.39 percent rebound. However, an extension of its ascent is still expect