Philippine stocks entered the bull market Monday, rising more than 20 percent from June and sending the benchmark index to its highest level in two and a half years.
The index surged 164.93 points, or 2.27 percent, to close at 7,417.25, the highest since February 2022. The wider all-shares Index reached 3,958.02, up by 62.40 points, or 1.60 percent. Colet said, however, the market is now technically overbought, which could indicate that a technical correction could happen “very soon”.
This will help increase demand for loans/credit which in turn would boost the domestic economy. This also means more funds that could be invested in the financial markets such as bonds and other fixed-income investments.
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