Overseas markets and the scheduled release of results for key listed local issues are seen influencing the direction of Philippine share prices next week, dealers said Friday. "These factors will set the tone for trading next week," said Astro del Castillo of First Grade Holdings.
Dealers said the central bank's decision Thursday to keep borrowing costs steady amid slowing inflation, although widely expected, should also help improve investor sentiment, along with a rising peso and exports.
For the week to August 11, the composite index fell 0.89 percent or 21.14 points to 2,341.46.
Average daily turnover fell to 3.01 billion shares worth 1.06 billion pesos (20.65 million dollars) compared to 3.812 billion shares worth 1.497 billion pesos in the previous week.
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