War impact to weigh on stocks anewThe Philippine Stock Exchange index (PSEi) capped off last week with back-to-back losses, ending Friday’s session slightly above the 6,000 mark at 6,058.94. MANILA, Philippines — Local stocks are seen moving sideways this week with a slight downward bias amid prevailing concerns on the economic impact of the war in the Middle East. “In our view, these developments may continue to weigh on market sentiment in the near term, as investors remain cautious amid rising external risks and signs of softening domestic labor conditions,” Estacio-Cruz said. This week, Tantiangco said focus is still expected to be on the conflict in the Middle East, with investors expected to monitor the developments on the war. A further rise in oil prices and a further depreciation of the peso is expected to drag the local market,” he said.
