SHARE prices gained last week, the fifth-straight week of increase, as sentiments improved following up-to-par third-quarter corporate reports and as inflation seemed to ease.The upward streak of the main index was broken only on Wednesday when it gave up points ahead of the 75-basis points rate hike that monetary authorities announced the next day.
The top losers, on the other hand, were: Republic Glass Holdings Corp.; Keppel Philippines Properties Inc.; LFM Properties Corp.; Easycall Communications Philippines Inc.; AllHome Corp.; and, Philippine Bank of Communications.SHARE prices may continue on an upward trend this week. But there will be consolidation as investors are now taking new cues to trade.
“Aside from this, investors are also expected to look for cues with respect to the monetary policy outlook of the Bangko Sentral ng Pilipinas and the Federal Reserve. Cues that would point to a slow down in their monetary tightening may lift sentiment, while cues that would point to a continuation of their aggressive policy path may lead to otherwise,” said Tantiangco.
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