PSEi climbs back above 7000 points

FxPH | June 27, 2018 | 56 | News

Besides forex I am also trading the local stock market in the Philippines (PSE) so I was happy to see the Index trading back above 7000. It appears we have found a bottom for now and we should be seeing some great buying opportunities for local stocks.

PSE back above 7000

The Philippine Stock Exchange index (PSEi) added 20.33 points or 0.29 percent to close at 7,007.21. The markets just opened so lets see if today’s level will hold.

BPI Securities president Haj Narvaez said: “Given the decline in the market, we believe that this would be a good entry point for newbie investors to slowly select stocks to hold on to for the next couple of years, and an opportunity for existing investors to consider undervalued companies.”

As always you should only speculate with money you can afford to lose but it appears to be a good time to get into the markets now If you’re interested in trading stocks in the Philippines.

Total value turnover for the day amounted to P5.92 billion. There was a modest net foreign buying of P57.7 million yesterday.

The main moves were DMCI and JG Summit, which both rose by over 3 percent.

Happy trading guys

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