Thursday, March 14, 2013

Down Market of March 14

Today, PSEi slip below 6,700 mark to 6,694.71; it's down by 1.21%. Many are saying it's because of China, it's because of HSBC telling that we're overpriced. But aside from those, I think a major factor is today is the cash dividends Ex-Date of several companies in the PSE index: PLDT (TEL), Aboitiz Equity Ventures (AEV), and Aboitiz Power (AP). These stocks (which contributes to a significant weight in PSEi) are expected to go down today because of the cash div ex date.

Tomorrow, no one knows what will happen. Hopefully it's a better day for the stock market.

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