Stocks seen to rise
The local stock barometer is seen trading with an upward bias this week on the back of month-end window-dressing alongside some positioning ahead of the third-quarter corporate earnings reporting season.
Last week, the Philippine Stock Exchange index (PSEi) inched up by 1.43 percent to close at 7,103.55 on Friday due to strong US corporate earnings results.
“With local earnings announcement season also fast approaching, we expect the index to go sideways with a bullish bias as investors anticipate ahead of (US) Fed (Federal Reserve) Chair (Janet) Yellen’s speech and local corporate earnings releases,” AB Capital Securities said in a research note. Doris C. Dumlao
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