The Philippine Stock Exchange index (PSEi) went up by 0.66 percent or 47.05 points to 7,186.32, while the wider All Shares index advanced 0.55 percent or 23.19 points to 4,235.52. Luis Limlingan, managing director of Regina Capital Development Corp., said: “Today we were just following the Wall Street gain last night on top of the fact that this is the second to the last trading day for 2014, window dressing for the yearend.” The Dow Jones went up 154.64 points, while S&P 500 added 7.89 points and Nasdaq gained 16.04 points. “Fund managers are taking positions. The consensus historically is that if December finishes positive, then January will also be higher. They are already positioning for 2015,” Limlingan said. He said that for next year, there is an expected strength in international markets across US, Japan, and Europe. The US economy is seen rebounding and watchful of the anticipated rise in interest rates, while Japan and Europe is seen to get stimulus from their own form of quantitative easing or asset purchase program. For the domestic scene, Limlingan said election spending will boost the market in around second half of 2015. He noted that next year will be a good year for consumer and power sectors on the rising volume of disposable incomes and middle class, as well as the looming power crisis in the summer months which can give power companies the control over prices. The entire sectoral indices gained with Property index leading the advance on increase of heavweights ALI and SMPH from the recorded lows previously. Property went up 1.35 percent or 37.05 points to 2,787.87; Financials increased by 0.46 percent or 7.68 points to 1,688.96; Industrial inched up by 0.09 percent or 10.86 points to 11,845.74; Holding Firms rose by 0.17 percent or 10.45 points to 6,252.92; Services advanced 1.27 percent or 26.49 points to 2,119.64; and Mining and Oil gained 0.67 percent or 104.21 points to 15,721.77. Active gainers include VMC, BDO, TEL, RWM, JGS, and DMC, while active losers were EDC, URC, AC, NIKL, and SM, among others. On Monday, the Philippine Stock Exchange index (PSEi) increased by 0.19 percent or 13.64 points to 7,139.27, while the wider All Shares index was up 0.39 percent or 16.52 points to 4,212.33. Trading will be suspended in the holidays, with the last trading day at December 29, and will resume on January 5 next year.
Posted on: Wed, 24 Dec 2014 23:07:59 +0000
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