A ‘make or break’ for PSEi on Q2 GDP

WITH sustained volatility in the global markets over the continuous decline of the yuan, it will be a “make or break” week for local shares, depending on how the Philippine economy did in the second quarter based on the gross domestic product (GDP) numbers to be released later this week.

While the local market was still mostly driven by the devaluation of RMB and local corporate earnings, next week “. . . we expect the PSEi to trade between 7,150 and 7,325 with a downward bias,” BPI Asset Management said in a weekly review on Friday.