Stock-Market Outlook - BusinessMirror

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Share prices moved up for the sixth straight last week on investor optimism on the prospects for the local currency and the expected slowdown in interest rate hikes.

The index retreated on Monday, but it recovered and stayed in the green until the end of the week.

Top losers, meanwhile, were AbaCore Capital Holdings Inc., Ferronoux Holdings Inc., Filipino Fund Inc., Manila Bulletin Publishing Corp., AllHome Corp. and Kepwealth Property Phils. Inc.Share prices may take a breather this week as the market is ripe for profit-taking after six weeks of ascent. Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., meanwhile, said chart-wise, the local market has been able to maintain its position above the 6,400 level and has gotten past its 200-day exponential moving average last week.

 

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