Philippine stocks could resume their uptrend this week as investors bank on less COVID-19 restrictions despite rising infections.
The Philippine Stock Exchange index (PSEi) last week rose almost 4 percent to end at 6,076.91.
BDO Unibank Inc. chief strategist Jonathan Ravelas said these sentiments could provide support and help the PSEi stay above the key 6,000 level.
“Philippine stocks could resume their uptrend as investors bet on less COVID-19 restrictions next week on top of recent gains on the benchmark index,” Ravelas said over the weekend.“A sustained rise could see a move towards the 6,300 levels in the near-term,” he added.
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