BusinessWorld
May 9, 2021 | 11:05 pm
SHARES are expected to correct this trading week as investors await the release of the first quarter (Q1) gross domestic product (GDP) report.
The Philippine Stock Exchange (PSEi) declined by 24.07 points or 0.38% to close at 6,258.71 on Friday, while the broader all shares index went down by 2.22 points or 0.05% to finish at 3,877.43.
Week on week, the benchmark index likewise shed 112.16 points from its 6,370.87 close on April 30.
Timson Securities, Inc. Trader Darren Blaine T. Pangan said inflation concerns here and abroad continued to cloud investor sentiment.
“Locally, trading volume remained thin, as investors digested the many economic reports released such as the April manufacturing activity, as well as April’s inflation rate,” Mr. Pangan said in a Viber message on Saturday.
Diwa C. Guinigundo
Last Friday, two sets of economic data were released by the BSP. They were disappointing and might likely be markers for bumpy roads ahead. First, foreign portfolio investment (FPIs) for March 2021 and for the first quarter of the year showed more outgoing than incoming foreign funds. Second, the balance of payments (BOP) for both periods reflected higher dollar outflows mainly for external debt servicing.
While they look seemingly harmless, these figures illustrate the economic costs of our failure to act fast in managing the pandemic. Insisting on simply re-opening the economy so that business activities would resume is a risky public pronouncement.
BusinessWorld
May 4, 2021 | 9:00 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
SHARES declined on Tuesday after a survey showed the country’s manufacturing activity went down last month and as investors stayed on the sidelines ahead of the release of April inflation data on Wednesday.
The Philippine Stock Exchange index (PSEi) lost 10.13 points or 0.15% to close at 6,359.15 on Tuesday, while the broader all shares index went down by 16.18 points or 0.41% to finish at 3,906.82.
“The bourse ended slightly lower as investors digested the recently released factory activity for the month of April,” Timson Securities, Inc. Trader Darren Blaine T. Pangan said in a Viber message.
BusinessWorld
May 3, 2021 | 9:00 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
PHILIPPINE shares declined on Monday as investors remained cautious over the country’s economic outlook as the coronavirus pandemic continues to affect recovery prospects.
The Philippine Stock Exchange index (PSEi) declined by 1.59 points or 0.02% to close at 6,369.28 on Monday, while the all shares index inched down by 0.03 point to end at 3.923.
“The inability to sustain gains reflects investors’ low confidence towards the market, as they remain worrisome over our pandemic situation and economic outlook,” Meanwhile, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.
“Trading became even more anemic… [this] shows that many investors are staying away from the local market due to the lingering uncertainties,” Mr. Tantiangco added.