Happy February, Barkada --
The PSE closed down 192 (!!) points to 7,200 [▼2.60%].
The market's shookt, but it's not just a Filipino thing as the DOW closed down 600 points overnight. All markets are witnessing a "flight to safety" as money leaves equities (stocks) and enters commodities (like gold, or now... bitcoin) or income-generating assets (like bonds or prefs). In wall-street speak, it's "risk-off."
Special thanks to /u/dgxxiii and /u/BawlSyet for their kind words. Thanks for being readers!
Daily meme
Top 3 MB Indices:
D30 Targets ▼0.03% Cement ▼1.15% Logistics ▼1.25% Bottom 3 MB Indices:
2019 IPOs ▼6.81% Power Gen. ▼5.82% Fast Food ▼4.14% Main stories covered:
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Manila Water voluntarily halts on Friday to disclose... backup plan to sell 900-million shares to raise money
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PSE bloodbath as the market trades down to 7,200
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Department of Finance (DOF) investigating a "new" onerous contract
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San Miguel's purchase of Holcim Philippines flagged in PCC review
About Merkado Barkada
Merkado Barkada is a daily email newsletter covering all the stocks, bonds, companies, characters, and issues that make up the Philippine Stock Exchange. I don't make any money from MB, I don't use affiliate links or anything to trick people, and I don't sell email addresses for quick pesos. I simply like researching news and writing about current events in a way that helps my friends, family, and barkada to understand more easily what is happening.
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