Inquirer
Stock investors tuned to local data, including inflation
Philippine stocks are expected to rise this week as investors anticipate positive inflation and GDP data releases.
The Philippine Stock Exchange index (PSEi) increased by 2.28% over the past week, reaching 6,411.86.
The PSEi has gained 2.28% over the past week, marking three consecutive weeks of growth.
Strong corporate results and expectations of an earlier-than-expected Federal Reserve rate cut have supported the market.
Analysts will be closely watching the release of the April inflation data on Wednesday and the GDP report on Thursday this week.
Potential trade talks between the US and China have provided an energy boost to investors.
April inflation is expected to quicken to 1.9% due to higher electricity bills and train fares, according to a poll of 10 economists.
The first-quarter GDP growth rate data is set to be released on Thursday.
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The Philippine Stock Exchange Index (PSEi) recovered the 6,400 mark, closing at 6,418.69, a 0.93 percent gain, driven by positive investor sentiment from a slower April inflation rate and strong corporate earnings.
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The Philippine Stock Exchange Index (PSEi) rebounded to close at 6,458.2 points, a 1.08 percent increase, driven by positive investor sentiment following progress on the US-UK trade deal.
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The Philippine Stock Exchange Index (PSEi) declined on Thursday due to weaker-than-expected first-quarter GDP growth, which negatively impacted investor sentiment.
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The Philippine Stock Exchange Index (PSEi) closed above the 6400 level, marking a 0.89 percent increase to 6,411.86, driven by improved investor sentiment.
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The Bangko Sentral ng Pilipinas (BSP) forecasts April inflation to be between 1.3% and 2.1%, potentially falling below 2%.
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