Philippine stocks are expected to move sideways with an upward bias ahead of the month-end window-dressing and release of second-quarter earnings by listed companies.
Investors are also anticipating positive comments from the Federal Open Market Committee meeting this week as the recent US inflation data fell in line with the Fed’s expectations. Among the companies that will release second-quarter results this week are BDO Unibank Inc., Manila Electric Co. and Wilcon Depot Inc.
Analysts advised investors to gradually accumulate and pivot to companies that would benefit from lower interest rates given these scenarios.
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