PH stocks seen trading sideways this week, with possible uptick

Philippine stocks are expected to trade sideways this week, with possible uptick on month-end window-dressing.“Absent other catalysts, next week’s month-end window dressing period might be an opening for traders to position and bet ahead of the US poll plus Fed cut week, especially given the timing on the earlier RRR cut implementation that should further inject available cash flow for trading,” online brokerage firm 2TradeAsia.com said.

2TradeAsia.com said attention would also focus on the upcoming US presidential elections which would likely dictate next year’s outlook on global trade. The Philippine Stock Exchange index lost 101 points, or 1.37 percent, week-on-week to close at 7,314 on Oct. 25, 2024 as Typhoon Kristine caused destructions in major parts of Luzon, eroding built-up optimism early this monthAverage daily turnover declined to P4.23 billion, lower by 28.41 percent week-on-week, while foreigners turned net sellers averaging at P43 million, versus the P217-million net buying in the previous week.

“The unfortunate impact of severe tropical storm Kristine is partly to blame for the main index’s big dip,” 2TradeAsia.com said.

Sverige Senaste nytt, Sverige Rubriker

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

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
Källa: MlaStandard - 🏆 20. / 55 Läs mer »

ECPay exec leads 50th Philippine Business Conference & ExpoELECTRONIC Commerce Payment Inc. (ECPay) executive Raymund Jude Aguilar is leading the Philippines' biggest business conference happening on October 22-23 at the Marriott Grand Ballroom, Pasay City.
Källa: TheManilaTimes - 🏆 2. / 92 Läs mer »