Philippine shares are expected to move sideways this week as investors look to macroeconomic data and global developments for fresh direction.
Analysts said investors are awaiting the release of Philippine inflation and unemployment figures for March, as well as minutes from the latest US Federal Reserve policy meeting. Developments in the Middle East also remain a critical factor that could sway market sentiment.
The outlook remains cautiously optimistic, with traders advised to remain selective and vigilant amid lingering uncertainties.
Last week, the local market ended the first trading day of April on a positive note. The benchmark Philippine Stock Exchange index climbed 49.74 points, or 0.84 percent, to close at 5,998.68—just shy of the crucial 6,000 level.
The rebound was largely attributed to an upbeat tone in global markets as U.S. equities rallied on hopes of easing tensions in the Middle East.
Foreign investors, however, remained net sellers with outflows at P3.46 billion. Average value turnover reached P8.7 billion, up from the previous week’s average of P7.6 billion.
Financial markets were closed Thursday and Friday in observance of Holy Week.
