Local brokerage firm Philstocks Financial Inc. sees the main index finishing between 6,550 to 7,050 this year, given the coronavirus disease 2019 pandemic.
He explained that a stronger third and fourth quarter recovery would allow for the stronger projection of 7,050 for the Philippine Stock Exchange Index , while slower recovery could mean the index ending at the projected 6,550. Meanwhile, Philstocks projects the country’s gross domestic product to contract by 5.8 percent year-on-year.
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