The local bourse is expected to take cues from the performance of the US markets and track the results of upcoming local economic data for this week’s trading, an analyst said. Philstocks Financial Inc. research associate Claire Alviar said the main index will weigh local and foreign catalysts for the trading week, and is seen to establish a support line and bounce from that level. She noted that value turnover in the previous week averaged about P7 billion daily, excluding the listing day of Converge ICT Solutions Inc. last Monday. The figure is higher than September’s P5.2-billion average value turnover, according to Alviar. “[W]e’ve [also] seen foreigners lately coming back in the market which is a good sign that could help sustain the rally,” Alviar added.

Source: Manila Times November 01, 2020 16:30 UTC