The uncertainty of the economic environment in the coming months has encouraged saving instead of spending,” AAA Equities further said. Last week, the benchmark Philippine Stock Exchange Index (PSEi) shed 0.96 percent or 58.91 points to finish at 6,088.75 amid the rise in Covid-19 cases in the country. He said the primary contributor to the slowdown is the continuous rise in Covid-19 global pandemic cases in the country. The Philippines reported 67,456 Covid-19 cases on Sunday, with 22,465 recoveries and 1,831 fatalities. Tan sees the market moving around the 6,000 to 6,300 levels for the week.

Source: Manila Times July 19, 2020 17:29 UTC