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THE MAIN INDEX ended in negative territory on Tuesday as investors took caution ahead of the policy review of the Bangko Sentral ng Pilipinas (BSP) as well as the United States’ and United Kingdom’s central banks, all slated later this week.
LOCAL STOCKS rose Friday — and for the second week in a row — on the back of portfolio adjustments in the face of Financial Times Stock Exchange (FTSE) rebalancing and as uncertainty over a United States-China trade deal and Brexit drove funds towards major Asian markets.
THE MAIN INDEX moved further down the 7,700 level yesterday amid a lack of fresh catalysts that could boost investor sentiment.
JUST a month ago, Philippine shares were flirting with a bull market. Then came the brutal breakup and since then, they’re back to being some of the world’s worst performers.
THE PHILIPPINE Stock Exchange index (PSEi) closed on Friday at its lowest level since nearly the start of the year as investors sold heavily amid portfolio adjustment in the face of MSCI rebalancing and after US-North Korea talks in Vietnam this week failed to yield denuclearization progress.
SHARES firmed up on Friday as updates on the United States and China’s trade negotiations helped offset fears of a slowdown in world economic growth.
WEAKNESS returned to Philippine equities on Friday — marking the second straight weekly fall — as traders adjusted portfolios ahead of the main index’s rebalancing on Monday, as the ongoing Sino-US trade row weighed on investors’ minds amid a lack of more compelling leads at home and as foreigners snapped back to selling mode.
THE BOURSE ended lower for the third straight trading day on Tuesday, falling below the 8,000 mark for the first time in seven sessions before clawing back just above that line as investors went on another round of profit taking, opting for second-liners instead of blue chips.
THE PHILIPPINE Stock Exchange index (PSEi) began the week lower for the second straight trading day, with investors staying cautious as fourth-quarter and full-year 2018 earnings reports begin to trickle in and amid nagging uncertainty in the trade row between the world’s two biggest economies.
THE BOURSE can be expected to coast at least through early this week, as investors await the release of listed firms’ 2018 financial results.
SHARES ARE SEEN to rise on Wednesday following the better than expected inflation reading for the month of January.