Key economic data in focus as market seeks leads

BARGAIN HUNTERS could help lift Philippine stocks this week, with the release of key economic data, including reports on October inflation and third-quarter gross domestic product (GDP), to drive trading.

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On Oct. 30, the benchmark Philippine Stock Exchange index (PSEi) went down by 0.57% or 34.09 points to close at 5,929.68, while the broader all shares index fell by 0.33% or 11.93 points to end at 3,593.28. Philippine financial markets were closed on Oct. 31 for a holiday.

Week on week, the PSEi dropped by 58.34 points from its close of 5,988.02 on Oct. 24.

The bellwether index was also down for the month, dropping by 23.78 points from its 5,953.46 finish on Sept. 30.