Trading resumes Thursday

The local stock market is set to reopen this Thursday, after a two-day Christmas break, entering the final trading days for 2013.

Before the holiday break, the main-share Philippine Stock Exchange index gained 19.75 points or 0.34 percent to close at 5,854.88 on Monday.  This puts the local stock barometer slightly ahead of its end-2012 finish of 5,812.73.

Many dealers expect the market to trade with an upward bias in the last two trading days for the year on a combination of yearend and quarter-end window-dressing as well as selective buying opportunities below the 6,000 mark.

Trading, however, is expected to be thin for the rest of the week as many trading participants have gone on an extended holiday break through the New Year. Doris C. Dumlao