SHARES OUTLOOK FOR THE WEEK:Delayed lift seen from inflation newsBy The Manila Timeshome/Business/Top Business/Delayed lift seen from inflation newsA delayed lift from last week’s inflation news and a stronger peso could allow the Philippines Stock Exchange index (PSEi) to rebound from a three-day beating, analysts said, although investors may opt to take their cues from Wall Street’s continued decline and the outcome of a vote on Brexit. The Philippine Statistics Authority reported last Wednesday that inflation had finally begun easing after hitting multi-year highs — peaking at 6.7 percent in September and October — for most of 2018. At 6.0 percent, the result for November was still well above the government’s 2.0-4.0 percent target but also fell below the market consensus. Eagle Equities’ Mangun based his optimism for domestic equities, meanwhile, on increased trading volumes and the continued inflow of foreign funds. Online brokerage firm 2tradeasia.com, meanwhile, said the index could return to the 8,000 level — last seen in April — if it showed strong momentum.

Source: Manila Times December 09, 2018 16:18 UTC