PSEi Gains 58.70 Points in Anticipation of GDP Report and Corporate Earnings

Share prices for local stocks picked up on Monday ahead of the Philippines Statistics Authority’s (PSA) scheduled release of the country’s gross domestic product (GDP) data on Tuesday.

The local stock gauge rose to 6,317.41 after gaining 58.70 points or 0.94%. The All Shares index, on the other hand, climbed to 3,906.71 translating to an increase of 29.28 points or 0.76%. Alongside the economic report, corporate earnings are also expected to be released within the week.

Investors are also looking into the most current economic data, like unemployment reports, in terms of foreign investments.

“Investors believe easy monetary policies will power the US market’s historic rebounds and will stay in place for longer,” said Regina Capital Development Corp. head of sales Luis Limlingan.

Source: GMA News