On the latest newsletter from the Truly Rich Club Stocks Update, Mike Vinas, in his article "BE NOT AFRAID: Handholding in a Market Like This" he made mentioned that...
"The recent sell-off or correction we’ve been seeing these days was triggered by foreign selling. This may have been caused by the people’s concern in the growing likelihood that US Fed could scale back on its bond-buying program soon. If this happens, it would siphon off the liquidity or cash, which was largely responsible for the upward move of markets globally."
Are we still in the market correction? I don't know. Now, the Philippines stock market market closed above 6,500 this Friday, after a fine roller coaster up and down ride started since Monday.
I tried capturing some snap shot of the latest news about the Philippine Stock Market. Read below.
Stocks end week higher
"STOCKS ended higher on Friday, with the Philippine Stock Exchange index gaining 36.22 points or 0.56% to end at 6,500.48 and the broader all-share index adding 17.31 points or 0.44% to 3,972.63." - www.bworldonline.com
PH stock market perks up
"Trading was mixed on Friday, with the industrial and holding firm counters leading the upswing while the property counter eked out modest gains. On the other hand, the financial, services and mining/oil counters closed lower." - www.business.inquirer.net
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