*** Pag tumataas ang stock dahil daw sa Pnoy gov't now bumababa why not blame the most corrupt Pnoy gov't!
Happy New Year sa mga may investment! madugo!
LOCAL stocks took their worst beating this new year on Thursday as renewed concerns on Chinas foreign exchange and stock markets triggered a bloodbath across the region.
The Philippine Stock Exchange index lost 195.02 points or 2.86 percent to close at a nine-month low of 6,618.88 following Chinas move to slash the reference rate of the renminbi (RMB), which in turn sparked a stocks selldown across the region.
For the PSEi, Thursdays closing marked the lowest finish seen since April 28 last year when it closed at 6,604.35. It was also the steepest single-day drop since Aug. 24 last year also called the Black Monday when the index slid by 6.7 percent when similar concerns on China caused a global stock market meltdown.
This market is really for the brave. Most investors were devastated today but for some its an opportunity to accumulate. Expect a relief rally tomorrow or the next day, said Astro Del Castillo, managing director at local fund management firm First Grade Finance.
China and Middle East conflict remain the culprit. However, local prospects remain positive, Del Castillo added.
http://business.inquirer.net/205181/205181
Happy New Year sa mga may investment! madugo!
LOCAL stocks took their worst beating this new year on Thursday as renewed concerns on Chinas foreign exchange and stock markets triggered a bloodbath across the region.
The Philippine Stock Exchange index lost 195.02 points or 2.86 percent to close at a nine-month low of 6,618.88 following Chinas move to slash the reference rate of the renminbi (RMB), which in turn sparked a stocks selldown across the region.
For the PSEi, Thursdays closing marked the lowest finish seen since April 28 last year when it closed at 6,604.35. It was also the steepest single-day drop since Aug. 24 last year also called the Black Monday when the index slid by 6.7 percent when similar concerns on China caused a global stock market meltdown.
This market is really for the brave. Most investors were devastated today but for some its an opportunity to accumulate. Expect a relief rally tomorrow or the next day, said Astro Del Castillo, managing director at local fund management firm First Grade Finance.
China and Middle East conflict remain the culprit. However, local prospects remain positive, Del Castillo added.
http://business.inquirer.net/205181/205181