Market Outlook

Similar movements might be seen Tuesday, with sessions moving within range, capped by final-minute boost.

The PSEi dropped by 2.82% w/w to close at 6,433.10 (-186.79 pts).

Continuity of Friday’s MOC-boost is seen to continue, with the backdrop of lessrestrictive monetary policies later this year.

Expect volatility with the month-end portfolio closing, parallel to US markets’ overnight decline with their latest 1Q GDP.

Having pierced through the 6,500 support zone, participants might bid for more time until supply pressure dries out.

Funds flow could gear on select large caps poised to deliver solid 2Q results, especially those in the areas of

Sessions may move within a narrow band, given the Memorial Day holiday in the US.

The PSEi ended flat w/w to close at 6,619.89 (+1.20 pts; +0.02%).

Movements might be range-bound, pending fresh catalysts to pump up aggressive positioning.

The PSEI rebounded and up by +0.80% to 6659.99.

Participants would monitor whether sentiment would sway to Wall Street’s weakness, or continue prior session’s strength.

Attention would be on the PSEi’s staying power above the 6,600 level, or retrace near 6,500.

The PSEi closed on a red candle after it was rejected at 6700 levels near 50MA and 100MA.

Expect range-bound movements for now, as participants check for possible continuity of selling pressure especially on intra-day rallies.

Local equities may continue its ascent, as fund managers position in select stocks backed by improving momentum indicators.