Shares to trade with bearish bias before key data

PHILIPPINE STOCKS could move sideways this week with a bearish bias as the market is likely to stay cautious before the release of key economic data at home and in the United States.

- Sheldeen Joy Talavera

On Friday, the Philippine Stock Exchange index (PSEi) declined by 0.55% or 34.62 points to close at 6,155.57, while the broader all shares index slipped by 0.43% or 16.19 points to end at 3,686.88.

Week on week, the PSEi tumbled by 2.01% or 126.01 points from the 6,281.58 finish on Aug. 22.

“The local market is already on a three-week decline, showing that bearish sentiment is currently in control, Confidence is tepid amid a mixed bag of second quarter corporate results, new US tariff threats, and uncertainties over the local economy’s outlook,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.