The benchmark Philippine Stock Exchange index has been trying to breach the 7,000-points milestone, closing last week at 6,897.54 points. Week-on-week, the local bourse corrected lower after gaining for three consecutive weeks, slipping 64.42 points, or 0.9 percent.Despite the week-on-week drop, the stock market is still near its five-month high reached last April 2, 2024, Rizal Commercial Banking Corp. chief economist Michael Ricafort said.
'Confirmation of such inflation expectations may somehow give the market a boost later in the week, he added.'Investors are also expected to take their cues from other upcoming economic data, including the peso's movement against the US dollar, the S&P Global Philippines' Manufacturing PMI for August, and Philippine labor force figures for July,' he continued.Online brokerage firm 2TradeAsia.