PH stocks seen trading sideways this week

  • 📰 MlaStandard
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 55%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Philippine stocks are expected to trade sideways this week on possible bargain-hunting, analysts said over the weekend. The main composite index traded

Philippine stocks are expected to trade sideways this week on possible bargain-hunting, analysts said over the weekend.

The main composite index traded downwards over the past four trading weeks, following the election of US President Donald Trump and weak third-quarter gross domestic product report.“The market’s four-week fall has brought it to even more attractive levels, opening the possibility of bargain-hunting in next week’s trading,” Philstocks Financial Inc. research head Japhet Tantiangco said.

Tantiangco said if the current headwinds, including the weakness of the local currency persist, the rise of long-term local and US yields and concerns over the prospects of protectionist policies in the US could still present challenges. The risk of another decline is still high, he said.

The Philippine Stock Exchange index closed at 6,676.55 last week, down 4.31 percent, after the market traded in the red in four of five trading days. The all-shares index also declined by 2.86 percent to 3,772.80. Foreign investors were net sellers last week, with net outflows reaching P5.96 billion. Average value turnover amounted to P6.1 billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 20. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PH share prices climb on positive earnings resultsPhilippine stocks opened the shortened trading week in the green amid positive third-quarter earnings of major companies. The bellwether Philippine Stock
Source: MlaStandard - 🏆 20. / 55 Read more »

PH stocks, peso climb on positive cues from US equities marketPhilippine stocks ended the week in the green on positive cues from the US equities market amid encouraging economic data. The Philippine Stock Exchange
Source: MlaStandard - 🏆 20. / 55 Read more »

Millennial startup owners aim to establish world-class Philippine watchmaking industryThe Philippine watchmaking scene may not be well-known yet, however, a handful of brands are determined to change that. They even have a private group
Source: MlaStandard - 🏆 20. / 55 Read more »