THE outcome of the US Federal Reserve's June 11–12 meeting will figure in the stock market's direction this week following a satisfactory start to the month.After plunging in the last week of May amid concerns over the direction of key interest rates, the benchmark Philippine Stock Exchange index closed at 6,518.76 on Friday, 1.33 percent higher week-on-week.
'The market was able to bounce back as investors digested our May inflation figure, which remained within the government's target range,' said Japhet Tantiangco, senior research analyst at Philstocks Financial Inc.It could experience 'sideways movement' this week, however, 'influenced by global economic cues and domestic developments.
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