PHILIPPINE SHARES may climb this week as headline inflation likely slowed last month and returned within the Bangko Sentral ng Pilipinas’ (BSP) annual target.
On Friday, the bellwether Philippine Stock Exchange index (PSEi) rose by 0.08% or 5.99 points to end at 6,897.54, while the broader all shares index went up by 0.25% or 9.52 points to close at 3,742.81.
Week on week, the PSEi fell by 0.93% or 64.42 points from its 6,961.96 close on Aug. 22.
“Local equities took a breather after almost a month-long upward move ahead of the August inflation data release [this] week,” online brokerage firm 2TradeAsia.com said in a market note.
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