When the Philippine stock market has an upside move on higher volume as it did last Monday—up nearly 2 percent —there is a collective sigh of relief and joyful hope that a bottom has been found. Know more:
When the Philippine stock market has an upside move on higher volume as it did last Monday—up nearly 2 percent —there is a collective sigh of relief and joyful hope that a bottom has been found.
But as I keep whining about, this is a global condition. The PSE is unchanged for the year. But look at the markets in Asean: Singapore off one percent, Malaysia and Indonesia down 6 percent, and Thailand has lost 10 percent. The UK, US, Canadian, Shanghai, and Australian markets are all about 2 percent higher year-to-date. Some including Korea , Germany , Brazil, and France are relatively super strong due to specific local reasons. Germany: “Stock market rises on better-than-feared earnings and easing energy prices.” France: “CAC 40 surges to series of all-time highs and outperforms peers after Beijing reopens its economy with huge Chinese demand for luxury goods.
Aside from short-term conditions like interest rates, inflation, export prices—all of which can change quickly—investors put money in the market only when they are confident about the future. And globally, it is difficult to find anything to be confident about.
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