Upcoming maiden share sales to cheer market

The forthcoming initial public offerings (IPOs) in the Philippine Stock Exchange may give enough fuel for the market to go higher amid the absence of other significant leads.

“With very little to chew on from the domestic front, local investors will continue to look overseas for guidance. However, oncoming IPO’s—at least three in the next month—may sap liquidity in the market ahead of the bulk of the earnings reports,” Jun Calaycay, Accord Capital Equities Corp. analyst, said.