The local bourse is expected to move sideways with a downward bias this week as concerns over the coronavirus disease 2019 (Covid-19) situation in the country persist.

Last week, the benchmark Philippine Stock Exchange index (PSEi) snapped its three-day rally as it fell by 1.6 percent or 106.54 points to finish at 6,545.17 on Thursday due to profit taking amid the continued rise of daily Covid-19 cases in the country.

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