THE market may regain strength this week after the last minute sell-off Friday on account of the incident at Resorts World Manila which left 38 people dead, including the perpetrator, and 54 others injured. “I think after the weekend, explaining what happened at Resorts World, I expect the market to rally from the drop and continue the consolidation due to the market softness last Friday,” Harry Liu, president of Summit Securities Inc., told The Manila Times on Sunday. A lone gunman, who was identified by police as Jessie Carlos, 43, forced himself into the casino-hotel and entertainment complex Resorts World Manila early Friday, firing shots with an M4 automatic rifle and setting gambling tables on fire. “Tax reform is also one that can help boost the market if crafted properly for the benefit of the people and growth for the country,” Liu said. The House of Representatives on Wednesday passed on third and final reading the first package of the Duterte administration’s tax reform package under the Tax Reform Acceleration and Inclusion (Train) bill.

Source: Manila Times June 04, 2017 16:52 UTC