Market to move sideways anew

The movement of the local stock market will remain sensitive to external developments after crucial upbeat 2013 Philippine economy results were announced and failed to cheer markets up on the day the data were released.

Abbygayle Estrella, equities analyst at AB Capital Securities Inc., said in a phone interview that despite major news such as the Philippine economy growing by 7.2 percent in 2013, domestic shares still opted to remain on the red side toward the end of the Thursday session, the last trading day of the prior week.