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Stock market to remain volatile; eyes on GDP - manilastandard.net

posted August 08, 2021 at 06:00 pm by  Jenniffer B. Austria

Trading at the Philippine Stock Exchange is expected to remain volatile with investors focusing on the release of important macro-economic numbers.

The government is set to report the second-quarter GDP gross domestic product figure on Tuesday.

Economists are expecting GDP to post a strong rebound in the second quarter of the year compared with year’s level when the strictest quarantine controls were enforced.

“Despite these being secondary to Delta variant pressure, any improvement on the macroeconomic front should at least ease some of the downside risk on year-end projections,” online brokerage firm 2TradeAsia.com said.

The upcoming PSE Index recomposition is also expected to drive volatility as funds rebalance their portfolio.

“In the face of broad market uncertainty, opt for modest gains on intra-day strength, as the public digests the business terrain for the remainder of third quarter of the year,” 2TradeAsia added. 

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