MANILA -- A stock brokerage will introduce in March a new online trading platform which will allow investors to automatically take profits and reduce losses amid the expected bullishness of the local bourse this year.
“For example, traders will be able to automatically send a sell order for a stock at PHP100 if the stock ever goes below that price in real-time. This simple but very powerful tool is the first of its kind for online traders in the Philippines,” William Cabangon, president of AAA Equities, explained to reporters on Monday.
He said automation allows investors to be prepared for any market volatility.
Cabangon thus considered the online trading platform a game changer for the local market and traders “who previously had to watch the market’s every move, or else risk losing money by missing key buy and sell targets.”
He said the platform will be available on desktop, laptop, tablet, and mobile phone.
Meanwhile, Cabangon urged more Filipinos to invest in the stock market to take advantage of the country’s fast-growing economy.
“I strongly urge especially younger investors who seem to shy away from investing to join the market because we are experiencing an unprecedented boom in our economy,” he said.
Cabangon expects the benchmark Philippine Stock Exchange index (PSEi) to rally to 8,900-level this year.
“I think this is a very reasonable target considering that the US Fed has stopped hiking (rates), that was a major drag for us last year. Foreign funds are consistently buying at least for the past month and also seem like the trade tensions between China and the US are dying down. So I think those three factors combined, along with the Philippines easing inflation, will be a huge boost to our economy,” he said. (PNA)
