6 months Sideways trading on investor caution Manilatimes |Biz
THE stock market is expected to trade sideways during a shortened, four-day trading week as investors remain cautious ahead of the May 13 midterm elections. In a market comment over the weekend, Eagle Equities Inc. research head Christopher Mangun said the market would continue “its trend of boring sideways action, as it cannot decide whether to go higher or lower.” “I doubt that we will see any major move from blue-chips, as the general investor sentiment remains extremely cautious,” Mangun said. Market players will stay on the sidelines until after results of the polls, he added. Trading is closed on ... more