Philippines share prices are expected to move sluggishly this week as investors wait for positive developments before making their next move, dealers said. "As we approach the Christmas holidays, the market will probably be restful," said Nestor Aguila of DA Market Securities.
"It would try to stay above the 1,900 level," he added. "Investors are also waiting for more positive developments before they buy into stocks," said BPI Securities in an advisory.
Company profits in the three months to September, "if robust, may provide the impetus for investors to return back to the market. Net profit results will be out starting late this month or early next month," the advisory added.
"If (the composite index) breaks above 2,050, this would hint of a possible move to 2,300," BPI Securities said.
For the week to October 7, the composite index rose 0.52 percent or by 10.21 points to 1,952.28 points.
Average daily volume rose to 551.12 million shares while value fell to 727.3 million pesos (13.01 million dollars) this week from 441.74 million shares and 1.043 billion pesos a week earlier.
Comments
Comments are closed.