Profit-taking seen ahead of ‘highest’ trade deficit

INVESTORS are likely to take profits this week after the Philippine Stock Exchange index (PSEi) touched the 7,800 level and on expectations of the highest trade deficit data, according to analysts.

In a market comment over the weekend, Eagle Equities Inc. research head Christopher Mangun said he expected market players to cash in on gains and take positions ahead of the “largest trade deficit” figure, to be announced this week, supported by slowed exports and increased imports of capital goods and raw materials for the Duterte administration’s “Build, Build, Build” infrastructure program.