The local stock market is likely to remain in the doldrums this year, but for investors with a longer investment horizon, it’s a good time to pick up bargains, local stock brokerage AB Capital Securities said.
On Wednesday, the main-share Philippine Stock Exchange index (PSEi) fell by 90.43 points, or 1.43 percent, to close at 6,236.40 as the market priced in the sharper-than-expected first quarter Philippine economic contraction and the latest rebalancing of closely tracked MSCI Indices.
In a market briefing, AB Cap assistant vice president and deputy head of research Lexter Azurin expressed confidence that the local market will bounce back as soon as the domestic COVID-19 contagi…
Keep on reading: Good time to hunt for bargains in the PSE, says analyst