The stock market traded flat on Thursday ahead of the rebalancing of the Financial Times Stock Exchange (FTSE) and a central bank meeting that observers expect would result in policy rates being kept. Philstocks Financial Inc. research associate Claire Alviar said profit taking again occurred as investors awaited the results of the Bangko Sentral ng Pilipinas’ (BSP) last meeting for 2020 on Thursday. Local investors often anticipate whatever the outcome of such a meeting, which could guide or influence their trading decisions. “Last-minute bargain hunting did not save the bourse from the negative territory,” she said, “but losses were thinner” at the end of trading. Managing Director Luis Limlingan also cited the BSP meeting and the FTSE rebalancing for the bourse’s latest performance.

Source: Manila Times December 17, 2020 16:18 UTC