Investors are likely to hold off from making big investment moves today barring market-moving news abroad during Thursday, a holiday as the Philippines commemorates the Day of Valor, an analyst said.
Astro del Castillo, First Grade Finance Inc. managing director, noted that investors would also remain cautious given the coming weekend. He said investors might jump back in the following week.
Friday comes just as the benchmark Philippine Stock Exchange index (PSEi) ended an eight-day rally last Wednesday. The PSEi is still up more than 11 percent year-to-date after hitting a new record high 26 times so far in 2015.
Analysts had previously said that the measure would likely move higher in the second quarter of 2015 but they also advised investors to be more “selective” in choosing stocks. Miguel R. Camus