Stocks inch sideways on lack of fresh catalysts
THE MAIN INDEX ended mostly flat on Thursday but still closed in green territory, showing investors continue to tread cautiously while waiting for a strong market driver.
The benchmark Philippine Stock Exchange index (PSEi) increased 13.03 points or 0.22% to close at 5,938.33 on Thursday, while the broader all shares index climbed 5.53 points or 0.15% to end at 3,585.62.
“The local bourse was able to make gains in the session, but trading remained in sideways movement as investors are watching the developments over the 2021 national budget,” Philstocks Financial, Inc. Research Associate Claire T. Alviar said in a text message.
The PSEi moved within a high of 5,950.50 and a low of 5,919.55 on Thursday, and has been closing with less than 1% movement since last Friday.
“This has been the trend for the last five trading days as it has seemed to have found an equilibrium between buying and selling,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an email.
“There’s still positive sentiment given the ongoing session for the budget, and investors are hopeful that it will be passed on time… But of course, we can’t avoid uncertainties, particularly after the tensions in the House of Representatives…,” Ms. Alviar said.
While waiting, investors have remained cautious and “can’t decide whether to go higher or lower,” Mr. Mangun said. “The minuscule gains was the result of advances in large-cap blue chips offsetting substantial losses in small to mid-cap issues.”
The market is also monitoring the daily coronavirus case count in the country, which has been slowing down in the past days, Ms. Alviar said. The Health department reported 1,910 new cases on Wednesday, the lowest daily increase in three weeks.
Most sectoral indices ended Thursday’s trading with gains. Mining and oil rose 106.86 points or 1.62% to 6,677.64; financials grew 6.90 points or 0.58% to 1,182.12; holding firms added 32.69 points or 0.53% to 6,126.36; and property climbed 2.49 points or 0.09% to 2,768.70.
On the other hand, services fell 3.10 points or 0.21% to 1,453.38, while industrials shed 11.26 points or 0.14% to 7,968.32 at the end of session.
Some 1.52 billion issues valued at P5.67 billion switched hands on
Thursday, down from the previous day’s 2.8 billion issues worth P5.97 billion.
Advancers bested decliners, 104 against 80. Some 62 names ended unchanged.
Net foreign selling climbed to P902.75 million on Thursday from P619.22 million on Wednesday.
“Investors are looking to the economy’s recovery for a boost of confidence and if we do not see that soon, the market may go significantly lower,” Mr. Mangun said.
In virtual conversations, what separates you and the other parties is a two-dimensional screen. Therefore, active listening in virtual conversations is something that everyone should strive to learn and practice.
But first things first is to fix the virtual conversation setup. This involves having the right bandwidth and checking your video, audio, webcam, office scene, and lighting. These are baseline requirements to sustain a meaningful virtual meeting.
The principles of active listening in face-to-face setting is the same as that in virtual, excepts for the nuances of the limited screen interface.
The first principle is pay attention. Give the speaker your undivided attention and acknowledge the message. Don’t look away from the screen frequently to look at your mobile phone. If you have a separate webcam, place it right on top of your screen to approximate the eye contact in the virtual setting. Minimize the distractions if you’re working from home by setting up in a quiet place.
The second principle is to show that you’re listening. Nodding occasionally is one approach, but in the virtual setting, you have to nod in a more conspicuous way so that the speaker can see. You can mirror the body language of the speaker to show interest, like leaning forward if the speaker leans forward. You can also encourage the speaker to continue with small verbal comments like yes, and “uh huh.”
The third principle is to provide feedback. Reflect on what has been said by paraphrasing. “What I’m hearing is... ,” and “Sounds like you are saying... ,” are great ways to reflect back. You can also ask questions to clarify certain points. “What do you mean when you say... .” “Is this what you mean?” Summarizing the speaker’s comments periodically is another way. Providing feedback aids in your understanding, which leads to building trust and rapport.
Fourth principle is deferring judgement. Allow the speaker to finish each point before asking questions. This entails keenly observing the speaker if he or she is done talking. Untimely interrupting is a waste of time and frustrates the speaker, which limits full understanding of the message.
Lastly is to respond appropriately. Active listening’s goal is to encourage respect and understanding. Be candid, open and honest in your response, without attacking the speaker or otherwise putting her down. Assert your opinions respectfully.
By becoming a better active listener in virtual conversations, you can improve your productivity, as well as your ability to influence, persuade and negotiate, not to mention avoiding conflict and misunderstandings. All of these are requisites for workplace success.