Philippines shares will consolidate within a tight range in the coming week while investors look to the upcoming release of economic data for possible directions for the market, dealers said on Friday. The composite index moved 1.8 percent or 53.19 points lower over the week to Friday to close at 2,830.99.
Average turnover for the week reached 3.28 billion shares worth 2.97 billion pesos (61.1 million dollars). "We think the market will consolidate in a tight range," said Ron Rodrigo of DBP-Daiwa Securities Inc, adding it would move between 2,800 and 2,850.
"What will be critical next week is that there will be some economic data released on exports and money flows. This could have some impact on the market," he said.
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