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Stocks on upward bias as inflation slows down

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The stock market is seen resuming its climb this week as investors are expected to capitalize on the momentum provided by the country’s lower June inflation print.

Despite closing in the red last Friday, the Philippine Stock Exchange index managed to grow by 1.26 percent week-on-week to 6,492.75.MANILA, Philippines —

“The local market was able to close higher last week despite episodes of profit taking in the start and end of the week. We’re seeing a build up of upward momentum as the market was able to maintain its ground above 6,400 and at the same time break above its 50-day exponential moving average,” Philstocks Financial research manager Japhet Tantiangco said.

Further, he said investors are likewise expected to watch out for the US’ June inflation print this week which would provide clues on the Federal Reserve’s policy direction. On his way to be sworn in as the most powerful man in the world, had to be lifted out of his car and carried up the stairs. Lopez-led First Gen Corp. is pushing back the procurement of its fifth shipment of liquefied natural gas while it awaits regulatory...

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