Latest Stories

PH stock index hits 6,721.33; analysts urge caution, see correction soon


MANILA, Philippines—The local stocks index breached the 6,700-mark for the first time in history on Monday as cash-awash investors sought better yields from equities, driving valuations to dizzying heights.

The main-share Philippine Stock Exchange index gained 56.27 points or 0.84 percent to close at the day’s peak of 6,721.33.

All counters were up but the sharpest uptick was posted by the industrial (+1.68 percent) and services (+1.08 percent) counters.

“The market continues to remain strong driven by continued flows domestically and overseas as evidenced by the pick up in value turnover last week versus the previous week. However, we recommend to buy on weakness as market remains overbought,” said Conrado Bate, president of leading online stock brokerage COL Financial.

“Advise caution on this sharp rise. A correction may happen soon. Take profit and be in the sidelines in the meantime,” said Ramon Garcia, president of local stock brokerage RTG & Co.

Japanese stocks led Asian equities higher on Monday on news that Asian Development Bank president Haruhiko Kuroda and Kikuo Iwata – both monetary doves or those who have vocally advocated monetary easing – may be put on the helm of the Bank of Japan.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Markets and Exchanges , Philippine Stock Exchange , Stock Activity , Stock Market

  • dprotector

    The stock market has been made like a casino to some people. There is no long term goal in their mind, just a quick profit. Maybe the government could tax this people who do this thing.

    • http://www.facebook.com/people/Francis-Santiago/1009533425 Francis Santiago

      In a way, the stock market is like gambling. You always take a risk when investing in whatever stock and in return you earn a profit or you lose your investment. Yan ang scenario when you’re investing sa kahit anong negosyo.
      I can also see that you are not aware on how the stock market works. Merong 12% VAT on every “buy” or “sell” that you make. Sa sell nga may sales tax pa aside from the VAT. Meron pang ibang charges by the PSE. So better read up muna before you start being a “keyboard einstein” and start yapping.

    • http://pulse.yahoo.com/_P4GAMKLWTOEY5N3JH2X3SZ26XA Dexter S

      Foreign hedge funds though are a different story and in some respects you may be right in the “casino” analogy if taken under the context of “gambling is akin to investing in any kind of business”.  These fund managers who helped heat up the PSE “parked” the money in peso-valued stocks and securities and we are talking about months or years relying (or so they say “gambling”) on a strong peso which gives our stocks more stability than say a Malaysian or a Singaporean stock.  OK when I say “park” it’s bound to “leave” or whatever these fund managers wanted to do.  In a matter of months these factors favoring a healthy and hot PSE could no longer be there.  This factor of “temporary” and “liquid” aspect of our current stocks’ situation does not augur well in the long-term state of the economy kasi what is driving this rise in the stock market is not equated to business expansion and thereby jobs etc.

Copyright © 2014, .
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


  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Man found dead in Quezon City, alleged victim of summary execution–report
  • Aquino to lead Air Force turnover rites
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • HK victims to get P115M; traders raised money
  • Marketplace