Market recovery seen tempered by weak sentiment

By Ed Paolo Salting

Aug 22, 2023 12:31 am

FOR this shortened trading week, analysts are expecting investor sentiment to be weighed down by the recent disappointing gross domestic product data, making it difficult for the Philippine stock market to stage a recovery after four weeks of decline.

Last week, the Philippine Stock Exchange index (PSEi) ended trading still in negative territory, with the local bourse down by 74.7 points or 1.17 percent at 6,290.27 points, as investors digested the revised inflation forecast of the Bangko Sentral ng Pilipinas (BSP).

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