Looking for guidance about the movement of stocks in the Philippine Stock Exchange (PSE)?
Here’s an excerpt from a special report published by stock resource PinoyInvestor.
“The Philippine Stock Exchange index (PSEi) ended the month of August on a sour note, plunging 6% this month alone, and erasing as much as 12% gains this year.
The PSE index has now corrected by as much as 12.9% from the intra-day record high of 8,136.97 made on April 7.
The decline is primarily caused by China’s latest economic figures that disappointed global markets, confirming that China’s economy is indeed slowing down.
The Dow Jones Industrial Average also tumbled as a result, declining 2.8% on Tuesday to close at 16,058, while the S&P 500 slid 3%.
The International Monetary Fund (IMF), meanwhile, said that the global growth outlook is worse than they had anticipated less than two months ago, citing a weaker-than-expected recovery in advanced economies, and a further slowdown in emerging economies, especially Latin America.
Meanwhile, the US central bank will hold its Jackson Hole meeting in Wyoming on September 17-18 to decide on whether the US Federal Reserve will start increasing interest rates.
The latest statement from Fed Vice Chairman Stanley Fischer suggested the central bank hasn’t ruled out raising interest rates; while Fed Bank of Boston President Eric Rosengren said that uncertainty over inflation and global growth justify a modest pace of rate increases, regardless of when the central bank begins tightening.”
Given all these external developments, at what level is the PSEi expected to close this September?
For stock reports that you can use as guide for your investments, visit the premium stock resource PinoyInvestor. Click here to see sample special reports that you can read for free.