WEEKLY SHARES OUTLOOKTrade subdued as ‘ghost month’ consolidation continuesTrading of local shares is likely to be subdued this week as the market continues to consolidate in the “ghost month,” with only strong earnings reports by some big tier-listed firms—Ayala Land, Ayala Corp., and GT Capital Holdings Inc—seen possibly giving the market any push. Average value turnover last week was low at P7.01 billion, but with net foreign buying still strong at P629 million. On Friday, the benchmark Philippine Stock Exchange Index added only 7 points or 0.9 percent week-on-week to settle at 7, 970.35. The main PSEi fell 1.86 percent that day in reaction to that statement. “I think they will start trading again after August 20,” Felix said.

Source: Manila Times August 07, 2016 13:07 UTC