Union Bank chief investment officer Rob Ramos said the Philippine Stock Exchange index will likely range from 6,900 to 7,300 level.
Ramos noted, however, that the US Fed will not hike rates soon and the market will likely look out for signs when on when the US Fed will stop its program of bond buying.
“I don’t think that the Fed is going to do anything drastic right now. I think everybody in the market thinks things will be status quo. They won’t be ending anything soon. That gives the Philippine market flexibility to keep our interest rates stabilized,” he told ANC on Monday.
He added that he is bullish on the earnings from the consumer sector while lower earnings from the banking sector is expected in the first nine months as they rely more on consumer loans, and they have lower trading gains. -- ANC
source: www.abs-cbnnews.com
