Last Friday was a blood bath...
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| 6.24.2016 |
The Euro bourses lead by French's CAC 40 (-8.0%), the German's DAX (-6.82%), and the London FTSE closing at minus 3.15%. Brexit negative sentiments spread contagiously around major indeces of the world. In the US, DOW losing -3.39% on Friday's close. The Nikkei was mostly affected in Asia, with a negative 7.92%. The local exchange was not spare with a minus 1.29%. The world financial market was in pessimistic mood last friday on Brexit specially the euro nations.
How will this Brexit affects us ? Negative or positive ?!
The same question U and I want to know...
If we will base our assessment on friday's result, surely 'TALO !'
But my crystal ball clearly see an optimistic trend. 'PANALO !', kung magtutuloy...
Last Friday, PSEi lost 1.29%.
The good news is smart money are positive on market prospects with an additional 1.2B pesos entering the trading floor. So it appear that the local investor cash in to protect their gains meanwhile foreign money made this a buying opportunity to position in the market.
PSE Weekly market report clearly erase our doubts that Brexit is positive so far to us, in term of foreign investors. Clearly last week, they showed their confidence with an additional investment of 4.3B worth of shares.
Clearly, the 30 day trend shows, Brexit is in no way negatively affecting the influx of foreign investment on local shares in fact I do believe Brexit is more positive to as so far...
The Trend is our friend...
Enjoy the ride !
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