Reporter
SHARES ended in red territory on Tuesday as investor sentiment reeled from the recent discovery of a new coronavirus disease 2019 (COVID-19) strain in Britain.
The 30-member Philippine Stock Exchange index (PSEi) declined 22.5 points or 0.31% to end at 7,202.39, while the broader all shares index fell 36.2 points or 0.83% to close at 4,290.14.
Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a mobile phone message that the local bourse dropped as investors were worried over news of a new COVID-19 strain in Britain.
The World Health Organization (WHO) advised that the new and highly infectious variant of the new coronavirus is a “normal part” of the pandemic’s evolution, Reuters reported.
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Reporter
PHILIPPINE SHARES inched lower on Thursday as investors booked profits and remained wary of rising coronavirus disease 2019 (COVID-19) cases around the world.
The Philippine Stock Exchange index (PSEi) dropped 1.68 points or 0.02% to end at 7,298.02, while the broader all shares index fell 0.16 point to 4,350.29.
Philstocks Financial, Inc. Research Associate Claire T. Alviar said the market ended lower due to profit taking.
“Traders took to profit taking amid strong psychological resistance at 7,300 level, along with the overvaluation of the PSEi in terms of price to earnings ratio which is around 21x, higher than the five-year average of around 18x.” Ms. Alviar said in a mobile phone message.
Reporter
LOCAL SHARES bounced back on Wednesday as investor sentiment improved after the release of central bank data showing higher remittances from Filipinos abroad in October.
The bellwether Philippine Stock Exchange index (PSEi) improved 71.97 points or 0.99% to close at 7,299.70, while the broader all shares index rose 29.44 points or 0.68% to end at 4,350.45.
Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a mobile phone message that the market improved as sentiment got a boost from latest central bank data on cash remittances.
Data released by the Bangko Sentral ng Pilipinas on Tuesday showed cash remittances coursed through bank channels rose 2.9% to $2.747 billion from $2.671 billion a year ago. This is the second straight month of year-on-year growth of remittances after the 9.3% recorded in September.
BusinessWorld
December 14, 2020 | 9:00 pm
THE LOCAL MARKET closed higher on Monday, sustaining its rally, as investors await the upcoming policy meeting of the central bank.
The 30-member Philippine Stock Exchange index (PSEi) climbed 35.19 points or 0.48% to close at 7,281.35, while the broader all shares index rose 19.78 points or 0.45% to end at 4,338.51.
Regina Capital Development Corp. Head of Sales Luis A. Limlingan said the local bourse closed higher as investors await the result of the policy meeting of the Bangko Sentral ng Pilipinas (BSP) on Thursday.
“The PSEi kick started the week as investors made bets ahead of the BSP meeting on Thursday and the continued Christmas rally,” Mr. Limlingan said in a mobile phone message.