Market seen ending 2014 on positive note
MANILA, Philippines - Philippine stocks are expected to end on a positive note after a whirlwind 2014 ride as it concludes the year on a one-day trading week.
Analysts said investors are seen to do their last stock shopping for the year on Monday.
Raul P. Ruiz, RCBC Securities head of research, said the Philippine Stock Exchange index (PSEi) is seen to close at 7,200 to 7,300 level for the year.
Monday’s trading will be the remaining stock market trading day for the year.
Next year, trading at the PSE will resume on Jan. 5.
The PSEi ended on a four day winning streak on its last time in action in Dec. 23.
The benchmark index gained 0.66 percent or 47.05 points to finish at 7,186.32 while the broader all shares index climbed 0.55 percent or 23.19 points at 4,235.52.
“We expect to end the year on a positive note,” said PSE president Hans B. Sicat.
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