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Analysts from Shenwan Hongyuan Securities wrote in a note that the economic growth slowdown is not worse than expected based on the recently released figures. Given the sluggish performance in the previous weeks, the market had already reached its bottom and was ready for a rebound. Meanwhile, the easing downward pressure from overseas markets and the improved liquidity in the domestic stock market will help the benchmark indexes to continue to climb.

Analysts said some of the priority bills under Duterte include the proposed shift to a federal form of government, the restoration of death penalty and the passage of second phase of the tax reform law.

And the average daily passenger volume in June reached 5.45 million, an increase of 4.22 million from the figure in February when passenger trips hit rock bottom, it added.

And, high-tech services grew at an astonishing rate of 21.2 percent. In preparing for consumer 5G telecoms next year, the output of mobile communications base stations grew 153.7 percent.

And that doesn’t even get to the .7 billion deal to buy Whole Foods Market, drastically expanding Amazon’s grocery reach. That wasn’t included in discussions because the deal has not closed yet.