Analysts see the market moving sideways and selling pressure to persist this week as it has yet to encounter a strong positive catalyst to push it forward. Research from AAA Equities said the main index might continue to move sideways between 5,800 and 6,000, as investors continue to monitor the pace of the economy’s recovery. AAA Equities also said local shares could continue lower to 5,800 at the beginning of next week should selling pressure picks up. Alviar also sees value turnover for the week to remain thin, while net foreign selling might also continue. Last week, the bellwether Philippine Stock Exchange Index shed 0.58 percent or 34.62 points to finish at 5,908.90 on Friday amid profit taking.

Source: Manila Times September 20, 2020 16:52 UTC