Stocks on 2-day break
The local stock market is closed today, Wednesday, in celebration of Christmas Day, leaving only two trading days for 2013.
On Monday, before the market paused for a two-day break, the main-share Philippine Stock Exchange index gained 19.75 points or 0.34 percent to close at 5,854.88.
DA Market Securities said in a research note that the market was finding resistance at 6,000, adding, however, that at this level and below, there would be buying opportunity. Other key barriers are 6,265 and 6,482.
Other dealers said the Philippine Stock Exchange index (PSEi) might eke out modest gains when the market reopens Thursday.
If the PSEi advances in the next few days, it will end this year with modest gains against its 2012 finish, thereby rising for the fifth straight year. The main index ended 2012 at 5,812.73, up by 33 percent year-on-year. Doris C. Dumlao
