Cautious trading seen ahead of GDP, labor data - BusinessWorld Online

The Philippine Stock Exchange index snapped its three-day rally on Friday, declining by 77.61 points or 1.19% to close at 6,405.50, while the broader all shares index went down by 29.70 points or 0.85% to 3,432.06.

“While investors appeared to have initially shrugged off the July inflation report, this may have eventually factored into investors’ reasons to secure some recent gains,” Mr. Mercado added. Philstocks Financial Senior Research Analyst Japhet Louis O. Tantiangco said the market is expected to remain cautious as investors continue to digest corporate results and ahead of the BSP’s policy meeting on Aug. 18.

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