PHL shares may move sideways before US data

PHILIPPINE STOCKS may continue to move sideways as the market awaits the release of August US consumer and producer inflation data, which could provide more support to growing expectations of a US Federal Reserve rate cut this month, especially following the soft jobs reports released last week.

On Friday, the Philippine Stock Exchange index (PSEi) rose by 0.69% or 42.21 points to close at 6,149.13, while the broader all shares index went up by 0.4% or 14.79 points to 3,692.71.