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Investors await cues from PSEi rejig, company earnings

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The benchmark Philippine Stock Exchange index will remain range-bound as investors place bets ahead of the upcoming earnings season.

National Statistician Dennis Mapa said gross domestic product in the fourth quarter of 2021 expanded 7.7 percent. He added full-year growth hit 5.6 percent, exceeding the government’s 5-5.5 percent target for 2021.

BDO Unibank Inc. chief strategist Jonathan Ravelas said investors used the recent bounce to sell shares amid rising risk aversion over the possibility that the US Federal Reserve will take more aggressive action to combat inflation.

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