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BY: JED JALECO DEL ROSARIO
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Tuesday, December 20, 2016
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ILOILO City – Last week has been an interesting one for the stock market, and this was because of the Federal Reserve rate hike in the early part of the week. The rate hike had been expected to pull down the market, but that had not been the case.
“It was a non-event actually,” Hernan Segovia of Summit Securities explained. “The fear that we have implied last week or the past couple of weeks, that the market will fall big time, because of the Fed Rate Hike, has somewhat abated.”
Although the week did experience some panic selling, it was all otherwise normal. “A very normal decrease,” Segovia describes the situation preceding and during the rate hike. “There was some panic selling, but we can say that the Federal Reserve Rate hike was absorbed by the market or discounted.”
Aside from the Fed Rate hike, Segovia also announced that the stock market can expect some window dressing in the next few weeks. Window dressing refers to a practice that involves pumping up the price of certain stocks near the year or quarter to improve the appearance of a fund’s performance before presenting it to their clients or shareholders./PN
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