Earning results, inflation seen influencing market

by The Manila Times

Jul 31, 2023 12:36 am

THE stock market's direction is expected to be mostly influenced by additional second-quarter earnings results with inflation data for July providing a final impetus on Friday.

The benchmark Philippine Stock Exchange index (PSEi) fell by 0.34 percent week on week but stayed above the 6,600 support level, closing at 6,625.26. The dip was said to have been primarily due to the US Federal Reserve's decision to resume hiking interest rates.

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