Stock market snaps losing streak

imposing new tariffs.

Regina Capital Development Corp. head of sales Luis Limlingan said the local market also took heart as major US indices rebounded on Monday from last week’s rout.

But Arbee Lu, head of P2P Trade Online, said a surge was unlikely given volume declines since the start of December.

“We may be seeing more funds turn coy and expect weak trading activity moving forward,” she noted.

Elsewhere, equity markets were mixed, with investor attempts to mimic gains in New York said to have been weighed down by the US-China trade war, the Huawei arrest, Brexit, violent demonstration in France and falling oir prices.

Adding to those problems was the resignation of India’s central bank chief over alleged interference by the government, which sent the rupee and the Mumbai stock market plunging.

Hong Kong rose 0.1 percent and Shanghai gained 0.4 percent but Tokyo shed 0.3 percent.

Singapore slipped 0.3 percent, Seoul was marginally lower and Sydney rose 0.4 percent. Bangkok and Jakarta slipped, while Wellington and Taipei were up.

London rose 0.7 percent, Paris rallied 0.8 percent and Frankfurt put on 0.9 percent.

The pound was stuck around levels seen in April last year after it dove in reaction to Prime Minister Theresa May’s decision to delay a parliamentary vote on her Brexit deal.

In Manila, the services and mining and oil sectors were the only losers, down by 0.47 percent and 0.08 percent, respectively.

More than 551.6 million issues valued at P4.7 billion changed hands.

Winners led losers, 106 to 75, while 53 issues were unchanged.