TRADING volumes for the week will be thinned by today’s local elections but analysts expect the stock market to continue building from last week’s gains. “[W]e are seeing a lot of optimism as the index refuses to break below this 7, 500 support level,” Eagle Equities, Inc. research head Chris Mangun said. The Philippine Stock Exchange index (PSEi) capped last week by surging 2.39 percent on Friday, adding 181.11 points to close at 7,752.11. “If we continue to see buying pressure [this]week, then we may see the index test its next resistance at 7, 830,” Mangun said. “[V]olume improved to 5.6 [billion shares on Friday]but still short of [the year-to-date]average of 8 [billion],” she noted.

Source: Manila Times May 13, 2018 16:41 UTC