COVID-19, tensions with China to affect market
April 11, 2021 | 10:01 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
TRADING at the stock market this week will remain choppy as investors monitor the rising of coronavirus disease 2019 (COVID-19) cases in the country and recent tensions in the disputed West Philippine Sea.
The Philippine Stock Exchange index (PSEi) declined by 106.54 points or 1.6% to close at 6,545.17 on Thursday.
Week on week, the PSEi gained 102.08 points from its 6,443.09 close on March 31. Financial markets were closed on Friday last week in observance of the Day of Valor.
“The market’s been moving with a downward bias since peaking at a little above 7,400 in January. Investor sentiment has flowed and ebbed along with developments regarding the pandemic,” PNB Securities, Inc. President Manuel Antonio G. Lisbona said in a text message on Saturday.
Shares inch up as investors assess updates on COVID-19
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PHL shares snap rally on profit taking, virus fears
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January 29, 2021 | 5:43 pm Font Size
PHILIPPINE STOCK EXCHANGE
STOCKS ended lower on Friday as investors booked profits amid surging coronavirus disease (COVID-19) infections and stricter lockdown restrictions in some provinces.
The benchmark Philippine Stock Exchange index (PSEi) slid 239.22 points or 3.49% to end at 6,612.62 on Friday. Meanwhile, the all shares index declined 101.01 points or 2.45% to close at 4,007.33.
“The market suffered a significant sell-off and on large value turnover, on sustained foreign outflows. Investors took to the exits, as the news of surging COVID-19 infections and uncertainty over vaccine rollouts clouded recovery expectations,” PNB Securities, Inc. President Manuel Antonio G. Lisbona said in a text message.