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WEEK 52 - Daily For December 30, 2010 - Thursday
WEEK 52 - Daily For December 30, 2010 - Thursday
GF EC-058B East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City, PHILIPPINES 1605 (632)687-5071 (trunk)
DAILY REPORT for December 30, 2010_Thursday
PSE Index Pts Change % Change Volume (m) Value (phpm) Advancers Decliners Unchanged
4,199.31 35.32 0.85% 1,361.29 4,841.44 84 54 41
economies are expected to find firmer footing on the road to recovery. Prospects of a shift to a tightening monetary stance next year
may remove some of the luster off equities. China, putting to action its central planners' worded policy, has taken an initial step by
raising one-year lending and borrowing rates by 25 basis points. Market watchers see further increases in the next six months.
While there is yet no pressures on our domestic rates, we can expect a reasonable hikes as the economy gets better, demand for capital
picks up and consumer confidence improves. At that point, monetary authorities will closely watch inflation numbers with the
interest rate tool within easy reach to nip pressures at the budding stage.
The index sustains it break above a month-and-a-half
downtrend line, reaching into the 4,200-4220 resistance band.
STO has reached into overbought territory, on the fifth day since
it positive crossed over the trigger line. This should temper
further moves tomorrow with investors locking in profits. Yet
the accumulative bias remains strongly positive, lending
support to a profit-taking induced retreat. The 10pdEMA's rise
above the 50pdEMa should provide additional upward
momentum.
The last day of trades may see positioning in 2011 stocks,
specifically those in the power and energy sector (for short-term
runs), property counters (medium-term hold) and financial
issues (long-term, portfolio foundation.)
DISCLAIMER: THE MATERIAL CONTAINED IN THIS PUBLICATION IS FOR INFORMATION PURPOSES ONLY. IT IS NOT TO BE REPRODUCED OR COPIED OR MADE AVAILABLE TO
OTHERS. UNDER NO CIRCUMSTANCES IS IT TO BE CONSIDERED AS AN OFFER TO SELL OR A SOLICITATION TO BUY ANY SECURITY. WHILE THE INFORMATION HEREIN IS
FROM SOURCES WE BELIEVE RELIABLE, WE DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE AND IT SHOULD NOT BE RELIED UPON AS SUCH. IN ADDITION, WE
SHALL NOT BE RESPONSIBLE FOR AMENDING, CORRECTING OR UPDATING ANY INFORMATION OR OPINIONS CONTAINED HEREIN. SOME OF THE VIEWS EXPRESSED IN THIS
REPORT ARE NOT NECESSARILY OPINIONS OF ACCORD CAPITAL EQUITIES CORPORATION ON THE CREDIT-WORTHINESS OR INVESTMENT PROFILE OF THE COMPANY OR THE
INDUSTRIES MENTIONED.
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