The benchmark Philippine Stock Exchange index is expected to move within a tight range this week on thin volume amid continued concerns over interest rate hikes.
Analysts said investors were closely watching key market indicators including the October inflation rate and the trend in commodity prices as these could provide clues on what the Monetary Board would decide in its November policy meeting.
The BSP has raised its key policy rate by 225 basis points since the start of the year to 4.25 percent.
Aside from the upcoming BSP meeting, investors are also watching the third-quarter earnings of listed firms.
Online brokerage firm 2TradeAsia.com said earnings of selected firms, including banks and industrial companies, remained upbeat as growth drivers were intact.
“While cash remains to be the undisputed king in times of volatility, dry powder has to go somewhere at some point, especially once broader market fundamentals start to inflect,” 2TradeAsia.com said.
