Close  

Weakening seen as market awaits BSP move

/ 05:05 AM December 10, 2018

The benchmark Philippine Stock Exchange index (PSEi) could further weaken this week as investors await news on the Bangko Sentral ng Pilipinas policy meeting on Thursday.

The PSEi ended the week at 7,461.06, down 1.3 percent.

ADVERTISEMENT

“It looks like the PSEi is continuing its way down our nearest resistance at 7,381,” said Arbee Lu, head of online trading at Papa Securities.

“That’s just another 1 percent drop away. We should begin to see some names starting to pick up as we expect the index to bounce as we approach that level,” he added.

FEATURED STORIES

Luis Gerardo Limlingan, managing director at Regina Capital Development, said investors were also awaiting action from the BSP after the inflation rate slowed last month.

He pegged the near term resistance level at 7,500.

Read Next
LATEST STORIES
MOST READ
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: BSP, Philippine Stock Exchange index (PSEi), Stock
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | 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.