April 15, 2019
Analysts do not expected stock market surprises during a shortened three-day trading week.
In a market comment, online brokerage firm 2tradeasia.com said trading could be muted with investors likely to have opted for an early Holy Week break.
Philippine financial markets will be closed on April 18 and 19 in observation of Maundy Thursday and Good Friday.
Investors, 2tradeasia.com said, will instead by looking forward to upcoming earnings reports and the Monetary Board’s next policy meeting in May.
First quarter results, it added, “will help validate the strength of corporate earnings growth—an integral component to justify valuations.”
Some indications could come from a host of upcoming stockholders’ meetings but the the Q1 earnings season will be kicked off today by Italpinas Development Corp.
On Friday, the benchmark Philippine Stock Exchange index dropped by 0.94 percent or 74.98 points to close at 7,880.82 while the wider All Shares slipped by 0.53 percent or 25.77 points to finish at 4,863.15.
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