Geopolitical conflict sends stocks lower !-- --
53 percent, to finish at 7,797.87 while the broader All Shares gauge went down by 22.21 points, or 0.47 percent, to end at 4,633.33. Most indexes were down except for the mining and oil sector.
However, total value turnover was thin at
Japhet Louise Tantiangco, senior research analyst at Philstocks Financials, said despite the uncertainties facing the market, there are a lot of positive indicators moving forward. These include robust company earnings and sound economic growth, and inflation which is likely to remain stable.
Because of the strong company earnings, Philstocks sees the PSEi reaching 8,700 to 8,800 this year. "With oil and gold higher on geopolitical risk and the US manufacturing weakest in a decade, it's no surprise that the Philippine shares slid along with other regional markets.
Gold and oil spiked following news of ballistic missiles hitting the largest US military base
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© Pakistan Press International, source