PSEi seen range-bound with PHL-US talks in focus

PHILIPPINE shares may move sideways this week amid a lack of fresh leads and as the market awaits updates on President Ferdinand R. Marcos, Jr’s trip to the United States, where he is scheduled to meet with US President Donald J. Trump as part of efforts to negotiate the country’s 20% reciprocal tariff rate.

- Revin Mikhael D. Ochave

On Friday, the bellwether Philippine Stock Exchange index (PSEi) halted its three-day slide as it rose by 0.13% or 8.17 points to close at 6,303.72, while the broader all shares index went up by 0.35% or 13.14 points to 3,736.28.

Week on week, however, the PSEi was down by 2.42% or 156.16 points from its 6,459.88 finish on July LL.

“The PSEi briefly breached the 6,500 level during the week before concerns were raised on the US’ 20% tariff on Philippine exports,” online brokerage 2TradeAsia.com said in a market note.