Shares drop as cautiousness linger in market bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
BusinessWorld
June 9, 2021 | 9:00 pm
PHILIPPINE shares closed higher on Wednesday as investors were optimistic about the country’s improving coronavirus disease 2019 (COVID-19) situation.
The Philippine Stock Exchange index (PSEi) climbed 92.82 points or 1.36% to end at 6,902.54 on Wednesday, while the broader all shares index gained 43.08 points or 1.04% to 4,160.21.
“The market ended higher [on Wednesday]… as participants feel optimistic over the COVID-19 situation in the country, and as foreigners continue to be net buyers in the local bourse,” Timson Securities, Inc. Trader Darren Blaine T. Pangan said in a Viber message.
“We think investors, at this point, continue to keep focus on improving prospects for the months ahead given the continuing pickup in vaccinations, and further relaxation of business and mobility restrictions,” China Bank Securities Corp. Research Director Rastine Mackie D. Mercado said in an e-mail.
BusinessWorld
May 6, 2021 | 9:00 pm
PHILIPPINE STAR/ KRIZ JOHN ROSALES
STOCKS continued to decline on Thursday as the possibility of an increased pork tariff rate caused renewed concerns over inflation, dampening market sentiment.
The benchmark Philippine Stock Exchange index (PSEi) declined by 16.91 points or 0.26% to close at 6,282.78 on Thursday, while the broader all shares index lost 2.78 points or 0.07% to end at 3,879.65.
China Bank Securities Corp. Research Associate Jason T. Escartin said market sentiment stayed weak due to the possibility of an increase in pork tariffs, “which may fan inflation concerns anew.”
“While the compromise agreement between local hog raisers and government is likely to hurt short-run market sentiment due to its impact on inflation expectations, we think this reduces the uncertainty around a sharper policy reversal in [the second half of the year],” Mr. Escartin said via e-mail.
Shares seen to rise as more firms post earnings data bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.