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THE bull run for Philippine stocks still has legs amid tailwinds of stronger corporate earnings, cooling inflation and continued monetary stimulus.
FOREIGN investors turned net buyers of Asian stocks in June as optimism ahead of a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping, along with expectations of US interest rate cuts bolstered sentiment.
THE Philippine Stock Exchange index (PSEi) is seen to end the year within the 8,400 to 8,600 range, boosted by lower interest rates and the expected earnings growth for listed firms for the rest of the year.
MANAGERS at the three best performing Philippine equity funds see a much rosier second half for Rodrigo Duterte’s term as president, forecasting that the benchmark stock index will climb about 25% over the next three years.
THE MAIN INDEX ended mostly unchanged on Wednesday as investors stayed on the sidelines ahead of the inflation report at the end of the week.
THE MAIN INDEX ended the week back below the 8,000 mark for the first time in eight trading sessions on Friday, leading a fall across Asia as investors took profit ahead of top-level Sino-US trade talks at the sidelines of the G20 summit in Osaka, Japan this weekend.
SHARES CLIMBED on Thursday, as investors digested dovish comments from the United States Federal Reserve.
LOCAL equities finished Friday in negative territory as investors took caution over the geopolitical tensions at home and abroad, particularly the continued worries over the US-China trade tensions and the attack on two oil tankers in the Middle East that was seen as a cause for the increase in oil prices.
THE MAIN INDEX firmed up on Thursday as investors reacted to May inflation data and a potential rate cut by the US Federal Reserve.
LOCAL EQUITIES ended the month up for the fourth straight trading day and marked the second weekly climb, buoyed by foreign buying that pushed the main index closer to the 8,000 mark last seen on May 2.