Markets closed Monday | Inquirer Business
Close  

Markets closed Monday

/ 02:43 AM August 27, 2012

MANILA, Philippines—Local sentiment is seen remaining cautious and vulnerable to offshore developments this week but brief rallies are seen possible on month-end window-dressing.

Last week, the main-share Philippine Stock Exchange index declined by 63.5 points, or 1.23 percent, to end on Friday at 5,143.35. There were only two days of trading for the week.

ADVERTISEMENT

Local financial markets are closed Monday as the nation observes Heroes’ Day.

“The market will likely tread water for this week as it continues to digest last week’s negative developments,” said PNB Securities deputy chief Manny Lisbona. “There may be technical rallies but the general direction will be sideways in the short term.”

FEATURED STORIES

Banco de Oro Unibank strategist Jonathan Ravelas said the PSEi would likely range between 5,050 and 5,200 this week.—Doris C. Dumlao

Read Next
Don't miss out on the latest news and information.

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: Markets and Exchanges, Philippine Stock Exchange, Stock Market
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2021 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.