Challenging year ahead for PH market
The local stock market was closed on Friday in celebration of the New Year.
The market has been on holiday break since Wednesday (Dec. 30), a national non-working holiday to commemorate national hero Jose Rizal’s death.
Trading will resume on Monday, Jan. 4
The new year is seen to be more challenging for the market. Apart from the relatively rich valuations versus regional peers, investors have to contend with external headwinds arising from China’s economic woes and the start of the interest rate increases in the US. At the same time, domestic uncertainties have risen ahead of the May 2016 presidential elections.
In 2015, the Philippine Stock Exchange index ended on a bearish note for the first time in six years as investors, shedding a total of 278.49 points or 3.85 percent to close at 6,952.08 on Tuesday last week, the last trading day of the past year. Doris Dumlao-Abadilla
