20-Jan: weakness in Asian bourses continues…

Stock markets across Asia are down after corp. earning in the U.S. disappointed and as speculation of a rate hike in China increases. Locally, investors are also fretting over: higher inflation and the BIR’s plans to raise taxes on stock market transactions (oh sh*t!). By the end of the session, the key Philippine Stock Exchange index was lower by 0.8% or 33.2 points to 4,006.24.
I made a gamble today by picking up some MER @ P267. Professional technical analyst loves it when the market is down. They just have to buy the right stock that will surge back on top. I am no expert, but picking MER @ P267 seems pretty good. This is Meralco, a blue chip. Sa Meralco, “may liwanag ang buhay” Sana lumiwanag buhay ko, bwahaha!