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Stocks to take cue from data releases

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Philippine Stock Exchange News

Investors will seek direction on upcoming economic data in a bid to get the stock market out of its recent slump.

The benchmark Philippine Stock Exchange index ended in a sour note last Friday at 6,615.55, down by 0.20 percent week-on-week.MANILA, Philippines —

“Also, the market was unable to hold its position above the 6,700 level last week, implying that a resistance remains at the said line,” he said.“However, ultimately, the market’s could still be dependent on our upcoming economic data. Investors are expected to watch out first for our April inflation report,” he said.

2TradeAsia.com said index movement has been capped by intraday selling pressure, keeping rallies short and the overall trend generally unexciting. The governments of the Philippines and Cambodia have concluded the double taxation agreement in a bid to improve trade and...

 

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