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LOCAL share prices are likely to see a correction
this week after rallying on the back of end-quarter window-dressing,
dealers said last Friday.
“The market is due for a
correction so we may see a pullback,” said Nestor Aguila of DA
Market Securities.
But there could still be some
last-minute window-dressing on Monday, the last trading day of the
current quarter, analysts said.
“The positive sentiment we’ve
seen [Friday] could extend till next week. Investors are
concentrating on window-dressing activities,” said Lawrence de
Leon of Accord Capital Equities.
“While many are expecting the
US economy to slide into recession most Asian economies believe its
impact won’t be as severe as earlier perceived,” he added.
For the week to March 28, the
composite index rose 138.44 points or by 4.9 percent to 2,956.02
points.
This marked the index’s longest
winning stretch since early December when it rallied for seven
consecutive days.
Average daily turnover rose to
2.19 billion shares but average daily value fell to P2.015 billion
from 1.12 billion shares worth P2.3 billion in the previous week.
--AFP
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