Conscious Investing Today
  • Top News
  • Business Insider
  • Economic Indicators
  • Investing Ideas
  • Politics News
  • Stock Analysis
  • Editor’s Pick
No Result
View All Result
  • Top News
  • Business Insider
  • Economic Indicators
  • Investing Ideas
  • Politics News
  • Stock Analysis
  • Editor’s Pick
No Result
View All Result
Conscious Investing Today
No Result
View All Result
Home Politics News

Shares sink further as coronavirus case tally rises

by
April 13, 2021
in Politics News
0
Shares sink further as coronavirus case tally rises
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

SHARES declined further on Tuesday as the country continued to log high coronavirus disease 2019 (COVID-19) cases in the past few days.

The Philippine Stock Exchange index (PSEi) declined by 60.85 points or 0.93% to end at 6,457.79 on Tuesday, while the all shares index lost 34.44 points or 0.86% to close at 3,953.81.

Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said the country’s COVID-19 situation “continued to weigh on investor confidence.”

“This comes as our daily additional coronavirus cases remain elevated, in turn, clouding our economic outlook,” Mr. Tantiango said in a Viber message.

On Monday, the Health department reported 11,378 new COVID-19 infections, bringing the total to 876,225.

“Business restrictions are less restrictive under current MECQ (modified enhanced community quarantine) guidelines. However, the constant rise of cases continue to spook investors,” AAA Southeast Equities, Inc. Research Head Christopher John J. Mangun said via e-mail.

Under the less strict lockdown, some business establishments are allowed to open at full capacity, except for entertainment venues, recreational facilities, and personal maintenance businesses.

ADVERTISEMENT

Meanwhile, offshore developments also affected market sentiment, said Anna Corenne M. Agravio, equity analyst at Regina Capital Development Corp.

“This is much like what is happening stateside, with US markets closing lower on Monday fueled by profit taking from record highs coupled with the effects of Fed chairman Powell’s speech. The negative sentiment in Asian markets, which came from a sustained increase in COVID-19 cases, also flowed into the local bourse,” Ms. Agravio said in a Viber message.

Majority of the PSE’s sectoral indices closed in the red on Tuesday, except for services, which inched up by 4.22 points or 0.29% to 1,426.88.

Meanwhile, industrials fell by 174.11 points or 1.97% to 8,660.57; property declined by 59.12 points or 1.82% to finish at 3,179.21; financials lost 24.81 points or 1.78% to 1,366.22; mining and oil went down by 55.12 points or 0.65% to 8,330.99; and holding firms slumped by 4.73 points or 0.07% to close at 6,600.23.

Value turnover increased to P6.1 billion on Tuesday with 1.93 billion issues switching hands, from the P5.97 billion seen the previous trading day with 2.43 billion shares traded.

“This shows that many are still staying out of the market amid lingering uncertainties,” Philstocks Financial’s Mr. Tantiango said.

Decliners beat advancers, 134 versus 64, while 50 names closed unchanged.

Net foreign selling surged to P1.42 billion on Tuesday from the P869.25 million seen on Monday.

AAA Southeast Equities’ Mr. Mangun said current market prices might be attractive to bargain hunters.

“Prices are approaching levels that have attracted buyers just a few weeks ago which may attract buyers to come in,” he said. — Keren Concepcion G. Valmonte

Related Posts

South Korean office workers hit convenience stores as ‘lunch-flation’ bites
Politics News

South Korean office workers hit convenience stores as ‘lunch-flation’ bites

June 29, 2022
Philex stocks right offering cleared by SEC
Politics News

Philex stocks right offering cleared by SEC

June 29, 2022
Term deposit yields rise further after BSP move
Politics News

Term deposit yields rise further after BSP move

June 29, 2022
Next Post
Peso ends flat vs dollar on vaccine delays

Peso ends flat vs dollar on vaccine delays

Sixers top Mavericks, 113-95

Sixers top Mavericks, 113-95

Masters champ Matsuyama open to lighting Olympic cauldron

Masters champ Matsuyama open to lighting Olympic cauldron

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Categories

  • Economic Indicators
  • Editor's Pick
  • Investing Ideas
  • Politics News
  • Stock Analysis

Popular News

  • A Minute With: Family Reunion cast on relatable story lines

    A Minute With: Family Reunion cast on relatable story lines

    0 shares
    Share 0 Tweet 0
  • Twitter launches ‘Milk Tea Alliance’ emoji as movement grows

    0 shares
    Share 0 Tweet 0
  • Gas and car bills to soar under green revolution

    0 shares
    Share 0 Tweet 0
  • Level up your gaming experience with vivo Y20s [G]

    0 shares
    Share 0 Tweet 0
  • Rehab, expansion of General Santos airport seen completed by Q2

    0 shares
    Share 0 Tweet 0
No Result
View All Result

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Highlights

Teaching Canadian kids about Pinoy food

Jollibee group shifts to hybrid work model

Iloilo City’s More sources 20-MW renewables from First Gen’s EDC

SuperWorld sees opportunities for virtual real estate in PHL

PLDT Enterprise expects services to benefit more China entities via new partner

BHI to upgrade Boracay resort

Trending

South Korean office workers hit convenience stores as ‘lunch-flation’ bites
Politics News

South Korean office workers hit convenience stores as ‘lunch-flation’ bites

by
June 29, 2022
0

An office worker eats his lunch at a convenience store in Seoul, South Korea, June 24. REUTERS/...

Philex stocks right offering cleared by SEC

Philex stocks right offering cleared by SEC

June 29, 2022
Term deposit yields rise further after BSP move

Term deposit yields rise further after BSP move

June 29, 2022
Teaching Canadian kids about Pinoy food

Teaching Canadian kids about Pinoy food

June 29, 2022
Jollibee group shifts to hybrid work model

Jollibee group shifts to hybrid work model

June 29, 2022

Disclaimer: ConsciousInvestingToday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2021 ConsciousInvestingToday. All Rights Reserved.

No Result
View All Result
  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.