Stocks to move sideways amid weak GDP, FDI watch

PHILIPPINE shares are expected to move sideways this week as investors digest the slower-than-expected third-quarter economic growth and await the release of foreign direct investment (FDI) data.

On Friday, the benchmark Philippine Stock Exchange index (PSEi) declined by 1.31% or 76.22 points to close at 5,759.37, while the broader All Shares index slipped by 0.81% or 28.86 points to 3,514.57. This marked the PSEi’s lowest finish in more than three years, or since it closed at 5,783.15 on Oct. 3, 2022.