Philippine stocks are expected to trade sideways on thin trading during this shortened trading week.Online brokerage firm 2TradeAsia.com said the market should brace for quarter-end window-dressing activities and potential lower trading volume ahead of the Lenten season.
The bellwether Philippine Stock Exchange index is seen trading between 6,800 and 7,000 points this week.Michael Ricafort, chief economist from Rizal Commercial Banking Corp. said the latest mixed signals on local authorities on the possibility of reduced local policy rate hikes for 2024 at around two, instead of four, that could indicate higher-for-longer interest rate stance, also affected investor sentiment.
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