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Philippines: Investors seen eyeing earnings, dividends
The stock market’s performance this week will likely depend on corporate earnings and dividend payouts announced by listed firms, analysts said.
With October 31 and November 1 having been declared by the government as special non-working holidays, they said investors could also be looking for catalysts from aboard.
“As participants heed [third quarter]numbers, the decision to buy, sell or hold will be largely dependent on the strength of earnings stream and listed firms’ dividend payout policy,” online brokerage firm 2TradeAsia said.
It also advised investors to heed news on possible mergers and acquisitions “with industries streamlining their supply chain platforms to achieve efficiencies and get a deeper hold of their markets.”
“While local equities have started to breathe from its latest run-up, look on listed shares’ inner character potential and veer away from shares that seem mesmerizing, but [have]superficial fundamental strength,” 2TradeAsia added.
In a separate comment, Eagle Equities, Inc. research head Chris Mangun said he expected the market to trade within the 8,200 to 8,500 range.
“Key to the deal is the market following support and resistances,” Mangun said.
“We may see lower value … [this]week as we only have three trading days due to the holiday, but I am still very positive that we will end the year closer to 9,000,” he added.
On Friday, the benchmark Philippine Stock Exchange index added 0.34 percent or 28.03 points to finish at 8,295.95. The wider All Shares rose 0.25 percent or 12.11 points to close at 4,857.56.
Source: http://www.manilatimes.net/investors-seen-eyeing-earnings-dividends/359539/