Stocks may rebound with BSP likely to cut rates

PHILIPPINE STOCKS may rebound this week as the Bangko Sentral ng Pilipinas (BSP) is expected to cut benchmark interest rates following slower-than-expected March headline inflation.

On Friday, the bellwether Philippine Stock Exchange index (PSEi) fell by 1% or 61.54 points to close at 6,084.19, while the broader all shares index declined by 0.57% or 20.97 points to 3,643.44.

Week on week, the PSEi dropped by 1.03% or 63.25 points from its 6,147.44 finish on March 28, marking its fourth consecutive week in the red.