News Formal

Stock market seen testing 6,800 level

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 22 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 92%

Stock 뉴스

Market,Seen,Testing

PROFIT-TAKING could lead to a pullback for the stock market this week but a close in 6,800 territory should not be ruled out, analysts said.

The benchmark Philippine Stock Exchange index, which hit an intraday high of 6,829.97 last Friday, closed 2.16 higher week-on-week at 6,791.69. It had closed a year low of 6,158.48 on June 21.Online brokerage firm 2TradeAsia.com said that the PSE's upward momentum was being boosted by expectation of rate cuts sometime in late third or fourth quarter this year and positive headlines regarding cooling inflation in relevant markets.

Still, Tantiangco said that traders could choose to take profits this week, driving down the market.'At its current level, the local market is still deemed to be fundamentally undervalued. Hence, long-term investors may also take positions next week,' he said.'The short of it is that positive earnings plus central bank policy decisions in August should provide near-term propellants for local equities.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 2. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Stock market down on profit taking despite lower inflationDefining the News
출처: MlaStandard - 🏆 20. / 55 더 많은 것을 읽으십시오 »

PH stocks snap 3-day rally amid profit-takingDefining the News
출처: MlaStandard - 🏆 20. / 55 더 많은 것을 읽으십시오 »

Market rally cut short by profit takingThe stock market closed the week in the red as profit-takers stepped in.
출처: PhilstarNews - 🏆 1. / 94 더 많은 것을 읽으십시오 »

PH stocks drop on profit-taking after market rallyDefining the News
출처: MlaStandard - 🏆 20. / 55 더 많은 것을 읽으십시오 »