The main index reached 6,780.78 points on Tuesday, but it declined on Thursday as investors decided to pocket their gains ahead of the busy holiday season.Foreign investors, which cornered 44 percent of the trades, were net sellers at P2.49 billion.
Top losers, meanwhile, were Chemical Industries of the Philippines Inc., Central Azucarera de Tarlac Inc., Paxys Inc., Easycall Communications Philippines Inc., Mabuhay Vinyl Corp. and Dizon Copper-Silver Mines Inc.Share prices may rise this week as the United States Federal Reserve’s shift to “slowing down” its aggressive hawkish stance on policy rates has caused a ripple of optimism across capital markets around the world.
This week, the government will release its November inflation data. The broker said it will be “an interesting discussion point” to measure the Bangko Sentral ng Pilipinas move on its final policy meeting for the year by the middle of the month.
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