Stock investors await May inflation report for direction
Inquirer.net The fate of the Philippine Stock Exchange index (PSEi), which has clawed back its way to the 6,500 level after US debt ceiling concerns eased, lies on the hand of the inflation report set to be released this week, according to market analysts.
Locally, investors will now turn their focus on Philippine May inflation data scheduled for release on June 6. A favorable inflation print, especially one that is below expectations, could encourage a recovery in the PSE, China Bank Capital Corp. managing director Juan Paolo Colet said.
The Bangko Sentral ng Pilipinas (BSP) projected that inflation in May might be within 5.8 percent to 6.6 percent, with 6.2 percent as the midpoint. Should this be realized, the inflation rate would have decelerated for the fourth month in a row.
