EXPECTATIONS of further policy easing after slower economic growth in the first quarter and easing inflation are expected to drive Philippine stocks this week.
Stock market sentiment would also be dictated by how well midterm elections pan out on May 12, analysts said.
“Despite a GDP (gross domestic product) miss, the Philippine Stock Exchange Index (PSEi) nearly touched 6,500, buoyed by resilient local earnings and investor optimism around an earlier-than-expected Fed rate cut,” online brokerage firm 2TradeAsia.com said in a market note.
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