Optimism towards the telecommunication sector boosted the shares of Dito CME Holdings Corp. by 37.14 percent week-on-week. The shares of the listed holding company of third telecommunications player, Dito Telecommunity, climbed 46 centavos or 8.68 percent to P5.76 apiece on Friday. Philstocks Financial Inc. senior research analyst Japhet Tantiangco said Dito’s shares were actively traded last week, which could be attributed to the optimism towards the telecommunication sector. He sees the firm’s shares to continue trading higher as it is in a strong uptrend and more investors are “getting on the ship.”Tantiangco, on the other hand, said Dito’s shares might experience profit taking moving forward. He added that sustaining Dito’s climb would depend on the developments of Dito Telecommunity, which is still preparing for its service launch.

Source: Manila Times October 04, 2020 16:10 UTC