PH stock market seen to move sideways in next few months

MANILA, Philippines - The Philippine stock market is expected to move sideways with a downward bias in the next few months, PCCI Securities president Francisco Liboro said. "In the near-term, which is the next couple of months, clearly the market will be moving sideways. There'll be a lot of volatility, there might be opportunities to go up.... (For investors) I would suggest they take their profits in the meantime because I think they'll probably get back into this same stocks at lower prices as the market fluctuates," he told ANC. Liboro said they will keep a close eye on the second quarter GDP figures, especially after the disappointing first quarter results. "Definitely the 2nd quarter (GDP) will tell us whether we're still on track or if the first quarter was just a blip or whether it's a trend. Hopefully it's just a blip and if the second quarter numbers are decent then we can expect at least government targets to be met," he said. Mornings@ANC, June 16, 2014