Trade subdued as ‘ghost month’ consolidation continues

Trading of local shares is likely to be subdued this week as the market continues to consolidate in the “ghost month,” with only strong earnings reports by some big tier-listed firms—Ayala Land, Ayala Corp., and GT Capital Holdings Inc—seen possibly giving the market any push.

“Our stocks are already on the expensive side,” said Victor Benavidez, nominee at Alakor Securities Corp. “Market consolidation is likely to take place.”