The stock market operators may have been at work again.
The Phisix down by about 95% of the session suddenly finds “enlightenment” during the last few minutes and soars by about 1.3% from the day's bottom. The Phisix closed .91% for the day.
The chart from Citiseconline.com tells it all—a spike at the session’s close.
Many may or will rationalize this as window dressing. Yet such peculiarities appear to have become more frequent.
If these have been meant to embellish the “More Fun in the Philippines” image, then this represents more signs of the politicization of the Philippine equity markets.
Distorted markets magnify boom-bust cycles.
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