MANILA— Local stocks will seek guidance on government’s decision in quarantine restrictions, particularly a shift to an experimental “granular lockdown” lockdown strategy amid a General Community Quarantine (GCQ) status will allow more businesses to open and more people will return to work.
Japhet Tantiangco, an analyst at Philstocks Financial Inc. said in a statement that local businesses may take cues from the decision of the government regarding the quarantine restriction in the country.
He also cited that easing the restriction is the hope of the investors primarily in the National Capital Region (NCR) as the biggest contributor in the nation’s economy.
Tantiangco also mentioned that easing up the restriction will be an upward momentum for the local market but warned for possible alarming cases of COVID-19 infections.
Investors are also expected to watch out the upcoming July labor force survey and August inflation data for clues on how the economy is pacing.