Eye on inflation as market returns from long holiday
Richmond Mercurio – The Philippine Star April 1, 2024 | 12:00am The benchmark Philippine Stock Exchange index finished last week’s shortened trading session back above the 6,900 level at 6,903.53, up 0.31 percent week-on-week. STAR / File MANILA, Philippines — Investors will keep an eye on the results of the March inflation data this week, […]
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Richmond Mercurio – The Philippine Star
April 1, 2024 | 12:00am
The benchmark Philippine Stock Exchange index finished last week’s shortened trading session back above the 6,900 level at 6,903.53, up 0.31 percent week-on-week.
STAR / File
MANILA, Philippines — Investors will keep an eye on the results of the March inflation data this week, as the stock market heads into the second quarter with renewed optimism after managing to close the first quarter on a positive note.
The benchmark Philippine Stock Exchange index finished last week’s shortened trading session back above the 6,900 level at 6,903.53, up 0.31 percent week-on-week.
“For the coming week, more market players/participants return from the Holy Week holidays and would lead to more trading values and activities that would support the market,” RCBC chief economist Michael Ricafort said.
Japhet Tantiangco of PhilStocks Financial said investors are expected to look toward upcoming economic data for clues for the first week of April.
He said investors are primarily expected to watch out for the Philippines’ March inflation data.
“An inflation print significantly faster than February’s 3.4 percent may further temper hopes of monetary easing by the BSP which in turn would negatively affect the local bourse. Investors may also take cues on the local economy’s health from the upcoming March S&P Global Philippines Manufacturing PMI,” Tantiangco said.
“Investors are also expected to look toward other markets. The record performances from Wall Street, if it continues, is expected to give positive spillovers to the local market,” he added.
