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LOCAL share prices will likely rise further this week following a
technical rally that began last week, dealers said on Friday.
But caution due to signs of high inflation could
mean this rally will not be sustained, they said.
“There will be a continuation of the rally.
This is more of a technical rally,” said Jose Vistan of AB Capital
Securities.
“The buying we are seeing is short-term
position-taking and some bargain hunting,” said Vistan.
For the week to May 9, the composite index rose
2.1 percent or by 56.47 points to 2,779.42 points.
Average daily turnover rose to 1.502 billion
shares worth P4.34 billion from 1.069 billion shares valued at P2.17
billion in the previous week.
-- AFP
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