Investors may start to cash in once first-quarter results start coming out.
Investors were relieved that contrary to expectations, Labor Day ended without any violence.
It merely compounded the problems that have been hounding the country,
doubtful because of the difficult environment caused by rising energy prices.
So when the government was able to withstand the threat, the market took that as a cue that perhaps, at least in the medium term, there won't be another threat.
Normally the decline should have been much more, but the market seems to be holding. The main difference between then and now is the fact that market fundamentals today are way, way better than before.
The party division being addressed is a market positive, but Arroyo staying on will mean continuing political tension.
Foreign institutional investors are, I think, cautious to neutral on equities, including those in the Philippines.
The government won't be able to meet its 5.3 percent growth target. We would be happy if we could duplicate what we have achieved in the first half.
It's like a thorn has been removed from the market.
