PH stocks dips after touching new record high 6,500

A+
A
A-

MANILA, Philippines–Local stocks started the first trading day of the Year of the Water Snake with a bang, allowing the main index to touch 6,500 for the first time, before retreating at close.

The main-share Philippine Stock Exchange index ended 0.66 points or 0.01 percent lower at 6,458.01 after hitting a new record intra-day peak of 6,500.08.

“Now, we cannot discount the fact that the market may either pause or do a slight pullback, say close to 6,200 (- 4.6 percent) or a bear-case scenario close to psychological support at 6,000 (- 7.7 percent),” said DA Market Securities in its research note issued on Monday.

The PSEi has risen by three times since bottoming out in 2008 during the US-epicentered global financial crisis.

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • http://pulse.yahoo.com/_FXE5E2IOEENUSMTFLDFM5OFFNQ alvin

    woo woo wooo go go go PHILIPPINES…..

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

editors' picks

advertisement

popular

advertisement

videos