News / Philippine Stock Market

PSEi Outlook For Oct. 13 – 17, 2008 By Bonner Dytoc October 13, 2008

Things just keep getting worse and there’s nothing we can do about it.

The concerted interest rate cuts among the major economies didn’t help any in quelling the financial crisis now being blamed on the credit crunch. We thought this would bring the market out of its tailspin downward to move higher.

As such, even the PSEi fell the hard way by dropping 8% or 190 points. This is definitely one of the biggest drops we’ve experienced, if not the biggest ever.

There’s nothing more to say really except to try and preserve whatever is left of your portfolio and to wait out this storm.

Recommendation: Stay liquid.