Share prices are expected to remain on sideways trading as inflationary pressures continue to weigh down on investor sentiments.
Analysts said rising inflation rate due to spikes in fuel and commodity prices will continue to hound the market over the near-term period amid a lack of positive catalysts.
Investors this week are focusing on the release of the June inflation rate that will indicate the next move of the Bangko Sentral ng Pilipinas. The central bank may implement a bigger rate hike during its policy meeting next month to curb inflation.
The BSP on Thursday said inflation in June likely reached as high as 6.5 percent, up from 5.4 percent in May, on weaker peso and higher oil and power rates.
Online brokerage firm 2TradeAsia.com, however, noted that the current market environment could provide investors opportunity to gradually accumulate stocks that offer growth over the long-term period.
The Philippine Stock Exchange last week slipped 0.8 percent to 6,165.35 while the All Shares Index was flat at 3,340.12.
