PH market seen trading sideways this week ahead of US elections

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The Philippine stock market is expected to move sideways this week, with a downward bias ahead of the US presidential election and release of October

inflation in the Philippines.

“Expect funds to move into defensive positions as the next few weeks are rife with events that markets have to parse and digest, regardless of how supportive or adverse new data are to fundamentals,” 2TradeAsia.com said. The BSP cited higher prices of food commodities, increased prices of domestic petroleum products and the peso depreciation as the primary sources of upward price pressures for the month.

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