The PSE Index ended 21 points or 0.3% lower to 6,077 on Friday as market participants were nervous after the Philippines government said that the chances of easing lockdown restrictions in the capital city Manila remain remote as the COVID-19 case doubling time is too short although the government has expanded its critical care capacity. The capital city Manila, Bulacan, Laguna, Cavite, and Rizal are under modified enhanced community quarantine until August. 18th. Also weighing sentiment, two cities in China Thursday identified coronavirus in cargoes of imported frozen food from Brazil. Meanwhile, investors await President Rodrigo Duterte's speech on August 17th, which expected to announce the new community quarantine classifications. Among top losers were the services sector (-1%) and holding firms (0.7%). Meanwhile, shares finished higher largely for energy (1.7%), financials (0.5%), and industrials (0.2%). For the week, the index was up nearly 4%.
Historically, the Philippines Stock Market (PSEi) reached an all time high of 9078.37 in January of 2018. Philippines Stock Market (PSEi) - data, forecasts, historical chart - was last updated on August of 2020.
The Philippines Stock Market (PSEi) is expected to trade at 5878.06 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5458.11 in 12 months time.