SIEGFRID O. ALEGADO, GMA NEWS January 2, 2013 3:55pm --
Accord Capital Equities Corp. analyst Justino Calaycay Jr. said the agreement reached by US lawmakers “clears the way for one uncertainty, which is on huge tax hikes.”
Calaycay noted that the PSEi may undergo a “tight consolidation” in the coming days before trying to breach the 6,000 area.
US President Barack Obama said he will sign a law raising taxes on the wealthiest 2 percent of Americans while preventing a middle-class tax hike.
On the back of renewed optimism in international markets, the possibility isn't quite remote that market participants may see “a continuation of the rally” in the next one or two weeks on the back of renewed optimism in international markets, said analyst Miko Sayo at Nieves Securities Inc. — VS, GMA News