Market Outlook

Market participants may continue to uphold on their feeler’ status, especially with supply pressure still present.

Market participants may continue to seek for clues if local gauges would bolt out from its flattish trend, pending the Fed’s guidance on sequel policies onto early 2025.

Participants may monitor possible ‘good cheers’ this week, as expectations build for the Fed’s 25bps rate cut, as well as from local monetary authorities.

The PSEi ended slightly lower by 0.02%, settling near the 6,600 level.

Eyes are set whether the PSEi would break its monotonous stance, as investors check on continuity of supply pressure.

Market participants will monitor possible continuity of yesterday’s supply pressure, although several might be prodded to position on dips in select stocks with prospective good spins for 4Q.

Attention is on continuity of the local bourse’s ascent, as some might be prodded to seize on this strength to cash-out, pending latest US inflation data later this week.

Subdued sessions may persist, as investors heed for signs of accumulation in select large caps, as well as improved turnover.

Improved chances for the Fed to lower its widely-watched interest rate would be the main theme this week, which may be seconded by possible follow-through rate cut from the local central bank.

The PSEi bounced back from the 6,600 level despite heavy foreign selling and rose by 1.74% w/w, closing at 6,724.14 (+115.29).

The PSEi remains below the 6,700 mark, remaining under its 50, 100, and 200-day MAs.

Participants may get feelers if November’s inflation has already been factored-in, as some check on possible rate cut from monetary policy leaders this month.

Participants are seen to monitor possible breakaway from the local bourse’s flattish trend, sifting through catalysts that could pump-up buy actions.

The PSEi remains on 6,700 closing at 6,734.21, down -0.13% intraday, remaining below its 50, 100, and 200-day MAs.

Fund managers’ attention might turn to the forex mart, considering headline news in the region (i.e., South Korea & China).