Stock-Market Outlook | VG Cabuag

  • 📰 BusinessMirror
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 59%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Share prices fell for the fifth straight week, with the main index sliding to the 6,600 point-level, as monetary tightening pushed investors to sell their holdings. Know more:

The Philippine Stock Exchange index fell by 93.12 points to close the four-day trading week at 6,685.90. The government announced on Thursday evening that Friday was a public holiday for the commemoration of the Edsa People Power Revolution.

All other sub-indices ended in the red, led by the broader All Shares index that was down 49.49 points to close at 3,572.20 points, the Financials index was lower by 21.54 to 1,797.26, the Industrial index retreated 158.18 to 9,634.78, the Holding Firms index fell 33.38 to 6,452, the Property index declined 73.28 to 2,885.76, the Services index decreased 30.63 to 1,672.50 and the Mining and Oil index shed 185.89 to 11,041.

Broker 2TradeAsia said a rate cut assumption is out of the picture for the next several months given the leading indicators, with the local central bank having to contend with both demand-pull inflation and cost-push inflation. Tantiangco said that the local market was unable to regain its position above its 50-day exponential moving average last week, giving a bearish signal. The market’s support is seen at 6,600 while its immediate resistance is seen at the 50-day EMA followed by the 6,800 level, he said.Maybank Securities has picked Robinsons Retail Holdings Inc. , mostly for its supermarket business.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 19. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Market Mind: Reality bitesA wave of selling is likely to crash over Asian markets on Monday following a sobering end to the week on Wall Street, as the reality of &039;higher for longer&039; U.S. interest rates finally
Källa: inquirerdotnet - 🏆 3. / 86 Läs mer »

Oil lower on firm dollar, market shrugs off Russian supply cutsOil prices fell in volatile trade on Monday, as a stronger dollar and fears of recession risks offset gains arising from Russia&039;s plans to deepen oil supply cuts. West Texas Intermediate U.S.
Källa: inquirerdotnet - 🏆 3. / 86 Läs mer »