MANILA, Philippines — The benchmark Philippine Stock Exchange index (PSEi) is seen to continue trading downwards, this week given the lingering uncertainties over the coronavirus disease 2019 (COVID-19) outbreak. In a separate commentary, BDO Research said the week’s close at 7,282 means that bearish trades continue to dominate the trading space. Last week, the market barometer PSEi fell by three percent week-on-week as investor confidence remains infected by risk-off sentiments arising the potential economic fallout from the coronavirus. Chris Mangun of AAA Securities said the market remains volatile as investors try to figure out how to position themselves with all the uncertainties and external headwinds. Mangun said that after failing to break above the 7,475 resistance level in the last two weeks, the market may continue lower and lean against the 7,200 support level.

Source: Philippine Star February 16, 2020 15:56 UTC