Typhoon's impact to dictate market direction

MARKET direction this week is expected to be largely dictated by the outcome of Typhoon Ruby (Ruby (international name: Hagupit), with stocks also seen trading in a tight range ahead of a central bank monetary board meeting on Thursday.

Justino Calaycay Jr., Accord Capital Equities Corp. analyst, said in a weekly market report that stocks this week will take their cue from the scale of devastation brought by Typhoon Ruby, with consumer plays in focus depending on whether they would be greatly affected by the calamity or will continue their bullish growth outlook as Christmas holiday spending kicks in.