Stock index seen to hit 7,800-8,100 in 2021

The Philippine Stock Exchange index (PSEi) is projected to reach the 7,800-to-8,100 territory by the end of 2021, according to First Metro Investment Corp. (FMIC).

In a virtual briefing on Thursday, FMIC First Vice President and Research Department Head Cristina Ulang said her company made the “very bullish and constructive” forecast on the back of the ongoing rollout of coronavirus vaccines, rebound in corporate earnings, market-reform initiatives, and the expected return of foreign investors to Asian emerging markets.