English: Phillippine stock market board (Photo credit: Wikipedia)Financial IQ Philippines Quick Hit(s):
If you are a long-term investor, it is a good to continually invest via cost averaging (i.e. a certain amount every certain number of days/weeks/months). If indeed we are in the bear market, you can buy more shares with the same contribution amount.
Local stocks are seen to move into bear territory as jittery investors keep tabs on global markets and react to growth concerns in Europe and the United States.
“The market will continue to take its cue from movements in overseas markets, even as it tests the 5,080-5,120 resistance band, as well as validating the 4,930-35 support range,” said Accord Capital Equities Inc.’s Jun Calaycay.
The Philippine Stock Exchange index (PSEi) fell by 28.88 points or 0.57 percent to close at 4,994.07 after Fitch Ratings cut Spain’s long-term credit rating.
“Caution is still our principal stance, while gradually increasing equity exposure on select counters,” Calaycay added.
Attention will be centered on Spain as it asks the euro zone for help with recapitalizing banks. Several of Spain’s banks need around $50 billion of capital to meet core Tier 1 requirements under the Basel III standards.
Greece will return to the polling place on June 17, a second round of voting after an earlier election failed to give rise to a new government.
http://www.philstar.com/Article.aspx?articleId=815942&publicationSubCategoryId=66
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