Monday, June 25, 2018
  • share this

Listless trading seen this week

/ 11:31 PM August 20, 2012

Local stocks are expected to remain listless once trading resumes Wednesday as investors scramble for leads in an abbreviated trading week.

Markets were closed Monday due to the holiday ending the Muslim holy month and remain closed Tuesday, which has been declared Ninoy Aquino Day.

In a research note to its clients, AB Capital Securities said sentiment this week would likely be driven by developments abroad, given that the local earnings season has already ended.


“One important event [this] week will be the Federal Reserve’s release of Federal Open Market Committee meeting minutes, which will give insights into the US financial and economic conditions for the month,” AB Capital’s Gregg Adrian Ilag said.

He noted, however, that stocks on the Philippine Stock Exchange were now trading at an average of 16 times their earnings on a per-share basis, which he said was a premium to historical valuations.—Daxim L. Lucas

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: forecasts, Markets and Exchanges, Philippines, Stock Market, stocks
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2018 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.