Upside bias for stocks this week

Share prices may continue their climb this week, with investors riding high on the momentum of a slower-than-expected September inflation.

- BY RICHMOND MERCURIO

The Philippine Stock Exchange index went up by 0.53 percent week-on-week, closing at a fresh high in more than two years last Friday to 7,467.92.

Last week's strong finish was driven primarily by a cooler-than-expected September inflation rate of 1.9 percent.

"Looking ahead, we expect the market to range between the 7,400 and 7,500 levels ahead of the next monetary policy meeting on Oct. 16," Unicapital head of research Wendy Estacio-Cruz said.