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Philippine Stock Market News – PHILIPPINE STOCKS DROP DUE TO ANOTHER LOCKDOWN

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PHILIPPINE STOCKS DROP DUE TO ANOTHER LOCKDOWN

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#StockSmarts #PhilippineStocks #PSEi
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PHILIPPINE shares slipped on Wednesday on fears of a tighter lockdown as coronavirus disease 2019 (COVID-19) infections rise anew and due to the spread of the Delta variant.

The Philippine Stock Exchange index (PSEi) declined by 49.55 points or 0.76% to close at 6,473.03 on Wednesday, while the all shares index shed 29.66 points or 0.73% to 4,010.09.

“Market [is] pricing in Delta variant spread and stricter lockdown worries but the fact that big losses in early morning trade tempered on close showed bargain hunting at work,” First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message.

“In addition, IMF’s (International Monetary Fund) lower GDP (gross domestic product) growth forecast for the ASEAN-5 and the Oxford Economics’ expectation that the Philippines would suffer the worst economic scarring in the Asia-Pacific, weighed on the sentiment,” Philstocks Financial, Inc. Research Associate Claire T. Alviar said in a separate Viber message.

“Many traders were also on the sidelines, waiting for the next quarantine measures,” she said.

“It is mainly the lack of demand for shares that is keeping prices depressed,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail.

“Although we are not seeing a spike in cases just yet, these fears may persist for months as the disease has proven to be very unpredictable. The only upside is the pace of vaccination,” Mr. Mangun added.

COVID-19 infections rose by 7,186 to bring active cases to 56,477 on Tuesday, based on data from the Department of Health. This was the highest daily tally in over a month or since June 13 when daily cases increased by 7,302.

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14 Comments

  1. Richard Gamboa
    July 30, 2021 at 10:15 pm

    I'm learning. Thanks for keeping us up to date…Iba pa rin pag may kasama ka, that u get to see it thru videos kesa ikaw lang mag-isa…
    Thanks for keeping us accompanied.

  2. Alexendra Nicholas
    July 30, 2021 at 10:15 pm

    🌈<Nice information. one of the best channel I now follow. I view cryptocurrency as one of the best digital investment and I totally love the technology when it comes to the largest crypto asset Bitcoin. As a trader, I have been able to understand that there are two sides when it comes to growing crypto holding/trading and everyone has their opinions when it comes to choosing sides. It doesn't take a genius to know that the top 98 Bitcoin wallets have been accumulating so many Bitcoins in the last month, while the little guys panic and sell they'll buy and take it cheap. Causing a supply shock and prices will skyrocket eventually. I'd say it's outrightly wrong to just sit back hold and wait maybe incure some losses along the line, that's a wrong mindset for an investor because as an investor finding ways to always increase and stack up more coins, making profits should be the way of life. I started with 2 BTC and I have accumulated over 6 BTC now. Laura can be reach'ed via—T E L E G R A M(@LauraLynnfx)—for more insights cheers

  3. Jake
    July 30, 2021 at 10:15 pm

    Great insights! Sir! Thank you!

  4. Coach Franz
    July 30, 2021 at 10:15 pm

    thank you for another update on what's going on in the PH market. stay safe always everyone!

  5. Cheska Velez
    July 30, 2021 at 10:15 pm

    Yayyy another video

  6. Justin Patrick Lopez
    July 30, 2021 at 10:15 pm

    Time to buy jolibee again and other blue chip stocks again…

  7. Brando Khalif Jally
    July 30, 2021 at 10:15 pm

    Thank you, Sir!

  8. Carlo Matignas
    July 30, 2021 at 10:15 pm

    I'm learning and stayed til the end. Thank you for the update idol! 😊

  9. Whitney Gabbard
    July 30, 2021 at 10:15 pm

    <Nice information. one of the best channel I now follow. I view cryptocurrency as one of the best digital investment and I totally love the technology when it comes to the largest crypto asset Bitcoin. As a trader, I have been able to understand that there are two sides when it comes to growing crypto holding/trading and everyone has their opinions when it comes to choosing sides. It doesn't take a genius to know that the top 98 Bitcoin wallets have been accumulating so many Bitcoins in the last month, while the little guys panic and sell they'll buy and take it cheap. Causing a supply shock and prices will skyrocket eventually. I'd say it's outrightly wrong to just sit back hold and wait maybe incure some losses along the line, that's a wrong mindset for an investor because as an investor finding ways to always increase and stack up more coins, making prof!ts should be the way of life. I started with 2 BTC and I have accumulated over 11 BTC now. Kennedy can be reach'ed via__Ꭲ Ꭼ Ꮮ Ꭼ Ꮆ Ꮢ 𐋎 Ꮇ:@[ Kennedypulk ]for more insights. cheers.

  10. Patrick Miguel
    July 30, 2021 at 10:15 pm

    been very busy lately but i was able to get my wifi so I can binge watch again! Lets Go!!

  11. Bordz Kolot
    July 30, 2021 at 10:15 pm

    here 11 po

  12. Jeruel
    July 30, 2021 at 10:15 pm

    As expected. Thank you sir Marviinn for the frequent updatess!

  13. Persis Balog
    July 30, 2021 at 10:15 pm

    Thanks sir marvin! Algo algo algo algo!!!!😊

  14. Raul Dagasa-an
    July 30, 2021 at 10:15 pm

    First?😅