PHILIPPINE SHARES may move cautiously this week as the market awaits the Bangko Sentral ng Pilipinas’ (BSP) review for clues on its policy direction as the conflict in the Middle East continues to weigh on domestic inflation expectations.
On Thursday, the Philippine Stock Exchange index (PSEi) rose by 1.3% or 80.12 points to close at 6,238.46, while the broader all shares index increased by 1.14% or 38.88 points to end at 3,435.23.
However, week on week, the PSEi decreased by 58.84 points from Aug. 14’s finish of 6,297.30.
Philippine financial markets were closed on Friday for the Ninoy Aquino Day holiday.
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