Bears remain wary of yuan, ‘ghost month’

IT looks like the market is in for another week decline as the bears remain wary of the impact of the yuan devaluation, particularly because the ‘ghost month’ has begun.

BPI Asset Management expects to see a rating range somewhere between 7,300 and 7,400 on the benchmark PSEi “…with a downward bias as the negative sentiment from the devaluation of the renminbi persists.”