The local stock market was flat again Wednesday as investors lack reason to aggressively buy or sell stocks amid so much uncertainty. The Philippine Stock Exchange index (PSEi) shed 1.56 points ,or 0.03 percent, to end at 5,892.72 with only the Industrial and Holding Firms counters in the green. Volume remained weak at 1.47 billion shares worth P4.45 billion with gainers barely edging out losers at 92 to 90 with 56 unchanged.
“Local shares closed flat as investors appeared to overcome worries about renewed coronavirus lockdowns in Europe and rising political uncertainty in the U.S.,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
AAA Equities Head of Research Chris Mangun said: “The general sentiment remains cautious despite the daily improvement in economic activity. There is some concern that without additional mobility, with the easing of restrictions on public transportation as well as reopening of tourism focused industries, economic activity may be at its peak.”
Source: mb.com.ph