The Philippine stock market plunged by 1.5% today but shares of media network GMA (stock code: GMA7) jumped on its IPO debut. Triggered by the … Read More
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Share prices in the Philippine stock market closed higher across the board, with the main index rebounding from Wednesday's 7.9%, as investors took comfort in Wall Street's recovery overnight.
At the close, the 30-company composite index was up 122.67 points or 4.0 percent at 3,190.12, with 105 advancers and 22 decliners. The broader all-share index rose 67.15 points to 2,050.45.
Dealers said investors realized that Wednesday’s selloff was overdone and that the country's sound economic fundamentals remained intact, shielding the local equities market from external uncertainties.
Note: Article updated to reflect market closing figures. Original story published thirty minutes after the stock market opened today.
The Philippine stock market plunged to its six-week low today, ending almost 8% down from yesterday’s closing.
The sharp decline followed the massive sell-off in Wall Street, which was triggered by sharp falls in the Chinese and European markets, a drop in US durable goods orders, and a warning by Alan Greenspan, former chairman of the Federal Reserve, that the US economy could go into recession this year.
The 30-company Philippine composite index finished down 263.84 points or 7.9% at 3,067.45.
It trailed the Dow Jones industrial average which shed off 416.02 points, its biggest one-day point loss since the day the stock market reopened after the September 11, 2001 attacks on New York and Washington.
Are you done taking Part 1 of this quiz? If you still haven’t, head over to this Stock Market Jargons Quiz (Part 1).
If you’re already done with it, you’re probably ready to take Part 2.
When you’re asked to “hit” the shares, what do you do?
Should you feel afraid if you were offered a “warrant”?
Take this 10-item quiz and see how much you know about several stock market jargons. You’d be surprised that some familiar words have different meanings in the context of stock market trading.
All set? Grab a pen and a piece of paper. Make sure you don’t cheat!
