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Philippine Stock Exchange in Taguig City.  Mark Demayo, ABS-CBN News

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Benise Balaoing

ABS-CBN News

MANILA -- The Philippine Stock Exchange joined the regional rally, with the state benchmark index closing at 7,202.16.This, after gaining 0.65 percent. Value turnover was at P8.16 billion.Stock market analyst Herald Tan said he sees this as the start of a long-term bull run.&quot;I don’t really consider it to be a short-term bull ride. But I see it as an emerging long-term bull market,&quot; he said.&quot;We are just starting for that big run,&quot; he added.Tan also asserted that the state bourse is not yet overbought.&quot;The market per se is not extremely overbought, but within our expectation, as you and most of your viewers would remember, that the last time we (spoke) about this, is that we (anticipated) the market to trade around 7,000 level by September. And we are happy to see the market move that way,&quot; he said. &quot;If the market is really strong enough, I would say that the 7,000 level is a great and reliable support that we would expect...as long as we do not have any substantial negative event that will really disrupt the market, then of course we will not revisit any more below 7,000 level.&quot;<div>--ANC, 19 September 2023</div>

The Philippine Stock Exchange index closed at 7,202.16.

The Philippine Stock Exchange index closed at 7,202.16.

As PSEi breaches 7,200 level analyst sees 'long term bull run'

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As PSEi breaches 7,200 level analyst sees 'long term bull run'

Benise Balaoing,

ABS-CBN News

Published September 19, 2024 07:16 PM PHT

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