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PSEi moves sideways as market waits for leads - BusinessWorld Online

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The benchmark Philippine Stock Exchange index (PSEi) inched up by 1.64 points or 0.02% to close at 6,566.54 on Wednesday, while the broader all shares index rose by 7.91 points or 0.23% to 3,449.33. READ:

STOCKS moved sideways on Wednesday due to a lack of fresh leads and with some investors picking up bargains as they stay on the sidelines.

“It’s the last day of trading tomorrow so we are expecting a possible window dressing. The market is currently trading less than our average of P5 billion. Most of the investors are on vacation and some are positioning on possible themes for 2023,” Mercantile Securities Corp. Head Trader Jeff Radley C. See said in a Viber message.“It is a wait-and-see scenario due to the recession fears for the first quarter of 2023. The dollar is rallying again and some commodity prices as well,” Mr. See said.

Most sectoral indices closed higher on Wednesday, except for property, which declined by 21.26 points or 0.73% to 2,881.37, and industrials, which lost 10.51 points or 0.11% to end at 9,354.58.

 

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Stocks to move sideways as year comes to a close - BusinessWorld OnlinePHILIPPINE STOCKS may move sideways in the last trading week of the year as investors price in economic concerns that may linger in 2023. The bellwether Philippine Stock Exchange index (PSEi) declined by 35.91 points or 0.54% to close at 6,541.03 on Friday, while the broader all shares index lost 9.79 points or 0.28% to […]
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