RP stocks look to US this week: dealers
Philippine share prices will this week likely follow the direction set by corporate results that are expected to come out soon, dealers said.
"It depends on how the numbers turn out (with regards) the corporate results on Wall Street," said Ed Bancod of ATR Kim Eng Securities.
"That essentially will be the major influence… at least until we get our own corporate results," he said.
"Everybody is trying to anticipate the first quarter results. Its more of a waiting game right now," he added.
"For local companies… the feeling is it won’t be too bad."
For the week to April 8, which included just two trading days due to holidays, the composite index fell 6.15 percent or 135.78 points to 2,072.81.
Average daily volume rose to 1.209 billion shares worth 2.83 billion pesos (60 million dollars) from 987.4 million shares worth 2.22 billion pesos the previous week.
Manny Pacquiao
Antonio Abacan Jr.