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PSE Index , Union and Metropolitan Banks |
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Monday, January 30, 2017
Brief Market Insight: PSEI & PH Financials
For now the PSE index have lost some steam with the majority sectors having pulled back with the end of the first months trading nearing some prices near flat or simply just above their respective opening levels. The brief run on the 7400 serves as the initial resistance that would be retested, while the low still at 7150. The decline had led prices to drift lower with a backdrop on Asian stocks across the board and a drop of the USD as an additional price reaction to the new US President Trump's executive orders that brought about a huge chain reaction.
Back to PH financial, Union Bank surge in earnings gave a good run and so did Metro-Bank are two of the three leaving behind one more to look into. But the market have turned sour in today's movements along side a bit of slide from the US dollar decline and the US stock market are merely part of a corrective phase to cover the JUMP-GAP that they did in breaking new highs.
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Three (3) days PSEI back-tracking its prices with a few exceptions that goes backing the trend with a considerable move on the last hour of trading is seen with MetroBank closing with its new high for February opening.
ReplyDeleteIn the Philippines there are Two Industry Sectors that has a "Certain Degree of Resiliency" The Philippine Stock Market Index is the barometer that measures the strength and weakness of the different market sectors that drives the PH economy. It can be considered as the main market indicator that reflects the market sentiments of investors and traders that determines where the money flows in and out of the major stocks composition.
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