After a disappointing second-quarter gross domestic product (GDP) report, share prices are expected to trade between the 6,300 and 6,500 levels this week.
“Investors’ attention will now shift to key economic data, particularly foreign direct investments and remittances, which are slated for release this week,” said Wendy Estacio-Cruz, research head at Unicapital Securities Inc.
Investors will also be watching for the US July inflation report.
The Philippine Stock Exchange index closed at 6,339.38 last week, up 0.53 percent from the previous week’s level. The broader all shares index ended at 3,767, up 0.42 percent.
Last week, investors were concerned about US President Donald Trump’s latest tariff plan on chips and semiconductor exports.
The second-quarter GDP of 5.5 percent was slightly faster than the 5.4 percent in the first quarter of the year but still failed to boost investor sentiment.
Average daily value traded was steady at P6.2 billion. Foreign selling also slowed, with outflows reaching P8.18 million, down from the previous week’s P337.8 million. Jenniffer B. Austria
