LOCAL SHARES opened the trading week slightly higher as bargain hunters emerged upon the resumption of business operations in the country on Tuesday.
The benchmark Philippine Stock Exchange index (PSEi) picked up 16.48 points or 0.21% to close at 7,793.25 on Tuesday. The broader all shares index ended flat with a gain of 0.8 point or 0.01% to 4,605.97.
“Philippine shares were slowly bought up towards close as more investors felt assured that the damage caused by the eruption would be short term,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile message, referring to the eruption of the Taal Volcano. READ MORE
Duterte to leave P1.4-T infrastructure projects to successor as ‘legacy’
THE Duterte administration will likely leave an estimated P1.4 trillion worth of infrastructure projects in the pipeline that will be up for implementation by the next administration, according to the Department of Finance (DoF).
DoF Secretary Carlos G. Dominguez III said the current administration was able to boost the project pipeline for its successor to P1.4 trillion, relatively higher than the P50 billion that the previous administration had left in 2015.
“I think that’s a very important legacy of a President — to hand over something to his successor on a silver platter,” Mr. Dominguez said. READ MORE
TECHNICAL ANALYSIS CHARTS
- President leaving a Legacy clearly speaks of the confidence in the Philippine economy
- DMC – is infrastructure and etc
- CNPF is Food based
- LTG – is infrastructure
- Bloom is gaming directing at Foreigners
- FGEN – power generation business
We love these companies and we believe there are huge potential for growth – but we want to buy at the right price – See chart above.
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