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You Have An Amazing Opportunity To Buy, So It’s a GRAND SALE Once Again!

The Philippine bourse ended just nearly higher than the 6,000 mark on Monday. This  is the sixth consecutive day in the red zone, after the impact of super typhoon Yolanda. At the positives side, this time is an amazing opportunity to buy. Happy investing. 

PSEi closes in on 6,000 mark

The Philippine Stock Exchange index (PSEi) lost 80.58 points or 1.32% to close at 6,004.26, while the broader all-share index dipped 35.96 points or 0.97% to 3,681.67.

The PSEi, however, crashed below the critical support of 6,000 to touch 5,998.38 during the intraday trading.

The market dropped as investors have lost their appetite for the market due to the absence of positive leads,” Lexter L. Azurin, research head at Unicapital Securities, Inc., said in a telephone interview.

The local market has been burdened by negative news in the past two weeks, particularly focused on the massive destruction created by typhoon Yolanda, which is expected to drag down the economy.

As of yesterday, the typhoon, which tore through central Philippines, has claimed 5,235 lives and destroyed nearly P25 billion worth of crops and infrastructure, government data showed.

“The outlook for the remainder of the year seems to be negative after NEDA (National Economic and Development Authority) and analysts made some statements that they were expecting a significant drop in the GDP (gross domestic product) this quarter,” Mr. Azurin said."

Source: bworldonline.com

Below is an snap shot from Bloomberg.com: PCOMP:IND - 6004.26

Lack of market-lifting news downs PHL shares at early trades

The benchmark PSEi fell 59.18 points or 0.97 percent to 6,025.66 as of 10:40 a.m. The broader all shares index retreated 0.83 percent to 3,686.62.

"In general, the market has lost its appetite... due to the absence of positive leads," said Lexter Azurin, research head at Unicapital Securities Inc., adding that growth outlook for the rest of the year "seems bleak after the recent typhoon that hit the country."

Super Typhoon Yolanda, which battered Central Philippines last Nov. 8, could shave as much as one percentage point from the country's full-year gross domestic product growth, according to Philippine officials.

"This would then affect corporate earnings," Azurin noted. 

"Some bargain hunting at some point," after investors have been selling down stocks, can cushion downside risks, he added. 

Source: gmanetwork.com/news

At the positives side, this time is an amazing opportunity to buy. Bro Bo Sanchez on his latest stocks update also mentioned... 

"I didn’t like what Yolanda did to our islands—the suffering of millions of people breaks my heart everyday. But being the contrarian that I am—I like what Yolanda is doing to our Stock Market.  Why?  It’s giving us an amazing opportunity to buy at very cheap prices.   Did you notice something about your portfolio?  Perhaps almost everything is RED.  So it’s a GRAND SALE again! 

Interested in Stock investing in the Philippines?

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More Success and Happy Investing,

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