Opinion: Stock market as of 9.30

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 Quite surprised with how the stock market is going on today (it's green after a long time, this is as of 11:29am 😂) considering what I read below:

THE Philippines faces the prospect of an “uneven” and “volatile” economic recovery as it struggles to control the coronavirus disease 2019 (COVID-19) pandemic, the World Bank (WB) said after it slashed the country’s gross domestic product (GDP) forecast again this year.

In the October 2020 Economic Update for East Asia and the Pacific released on Tuesday, the multilateral bank said it now expects the Philippine’s GDP to shrink by 6.9% under a baseline scenario and a deeper 9.9% contraction under the low case scenario. 

“The return to pre-COVID-19 GDP level in the Philippines is around (towards the) end of 2021 based on our projections and the pace is slower in the Philippines than in Indonesia because the Philippines is much more connected to the world than Indonesia which is a very domestic driven, closed economy relative to the Philippines. Also in the last six months, the Philippines has been in a stricter lockdown than Indonesia,” World Bank Senior Economist Rong Qian said in an online press briefing Tuesday.

Source: Business World

I literally kind of expected it would continue it's red streak for a couple of days due to the continued GCQ announcement for NCR and the absence of this so-called "catalyst" for the economy's improvement. This "catalyst" I've read on so many daily reports for the stock market and views on the forecast of GDP for the country.

Just sharing my thoughts on a Wednesday morning. Blessed day ahead!

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