PHILIPPINE SHARES could move lower in the shortened trading week amid bearish sentiment following the hawkish tone of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).
On Friday, the bellwether Philippine Stock Exchange index (PSEi) rose by 0.16% or 10.78 points to close at 6,406.38, while the broader all shares index went up by 0.11% or 4.08 points to 3,675.83.
Week on week, however, the PSEi fell by 3.18% or 210.13 points from the 6,616.51 finish on Dec. 13.
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