PSEi eyes 7,000 as BSP keeps rates steady

The Philippine Stock Exchange index (PSEi) is expected to test 7,000 this week as investors monitor the country's vaccine rollout and manufacturing data.

On Friday, the PSEi closed at 6,950.51, up by 64.51 points or 0.93%, with all counters marked green.

The Bangko Sentral ng Pilipinas (BSP) kept its key policy rate unchanged and reiterates support for sustainable economic recovery, boosting market sentiment.

FMIC's Head of Research Cristina S. Ulang noted that the market is looking forward to reopening due to increased vaccine supply and better growth prospects.