Exclusive Interview with Yilmaz Bektas
Daily Market Notes Thursday May 31 2007
PSEi 3,474.67 UP 76.12
VALUE PHP 6,994,525,120.0
Up 2.2%, but NFB does not wander far from NFS despite 7Bphp overall value turnover.
All eyes were on wall street last night but they chose to ignore China's move and decidedly closed up by over a hundred points, helped by former Fed chair Greenspan that China moves to cool down their equity markets and any bursting bubble effect will have impact China more and other global markets less.
By 11 a.m., GDP was announced to be at 6.9%, expected was only 5.7%. This was the fastest growth in 17 years. I tell you, why not always revise our growth projections to be on the much lower side, so as we will always be surprised by "better than expected" results.


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