PSEi Stock market outlook week september 12 2011

Indonesia stock info - PSEi Stock market outlook week september 12 2011 ; BLUE CHIPS slumped on Friday after two days of being in the green, tracking the US markets that fell overnight after Federal Reserve Chairman Ben Bernanke gave no clues as to new measures the US central bank will use to stimulate the slumping US economy. The Philippine Stock Exchange index (PSEi) closed at 4,346.07, losing 0.24% or 10.66 points.

Blue-chip Dow Jones industrial average shed 1.04% or 119.05 points to close at 11,295.81 on Thursday with the decrease owed to Mr. Bernanke’s speech on the same day that did not indicate any economic stimulus measures for the flagging US economy.

For next week, Mr. Yeung said the PSEi is still expected to move between 4,300 and 4,400, given the developments in the US and the eurozone.

"Since mid-August, the PSEi has been trading within a narrow 100-point trading range. The range of 4,300 to 4,400 has held mostly due to the uncertainty surrounding the problems of the US and the eurozone. The range is not expected to be broken next week," he said.


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