The week that was could have been considered one solid rally for local shares, with PH stocks gaining steady growth for six consecutive days to go past the 3,900-point mark. The target was reached, but at the end of the week, the market retreated as if trading activity has reached the climax and everyone who’s been eagerly wanting to push the growth of the market has been satisfied and, after a long week, just said, “Well, we’ve had one helluva ride this week, might as well take an early weekend break.” Such situation is acceptable, if not recommended, as people always say, “Take it easy.”
And they are right. And our local market stakeholders are right. Why not take an early break for the weekend, and recover the energy spent pushing the market way past the 3,900 mark? The 4,000-point target is actually just around the corner. Let’s relax for a bit, recover our energy… and we’ll have the coming week for that.
Overall, local shares managed to pull through amid the continuing uncertainty in the Middle East and the lingering high price of oil. The bellwether Philippine Stock Exchange index (PSEi) closed the week at 3,924.35 points, gaining 1.07% from 3,882.7 points last week. The wider all-shares index likewise went up, pulling a 0.24% growth to 2,934.6 points, while the Property sector continued its steady growth, gaining 4.08% for the week.
Below is the list of the top price gainers for the week: