On Wednesday, Philippine stocks ended the session on a positive note, edging closer to the 8,000 mark, with signs of inflation easing, according to an analyst.
The Philippine Stock Exchange Index concluded the day 2.83 points higher at 7,919.67.
RCBC Securities' head of research, Raul Ruiz, expressed optimism, foreseeing the index potentially reaching 8,800 by year-end. He cited factors such as a strengthening peso, a halt in the Bangko Sentral's interest rate hikes, and potential progress in resolving the US-China trade conflict as supportive of this outlook.
Ruiz remarked during an interview with ANC's Market Edge that achieving the 8,800 milestone would exceed market expectations.