PSE Market Outlook (5 Nov 2024) by 2TradeAsia
Another subdued yet volatile session is seen, with most global investors on the watch for the US election & the Fedâs policy meeting.
PSE Market Outlook reports summarize our partner brokersâ analysis of the expected short-term movement of the Philippine Stock Exchange index (PSEi). This report primarily relies on Technical Analysis and may be useful to short-term or day traders.
Another subdued yet volatile session is seen, with most global investors on the watch for the US election & the Fedâs policy meeting.
Participants should expect volatility this week, with the US presidential election and the outcome of the Fedâs policy meeting.
The PSEi dipped by 2.34% w/w, closing at 7,142.96 (-171.27pts).
Expect volatile sessions with the month-end closing, as well as US elections next week.
The PSEI closed at 7,239.98 yesterday, down -1.41% intraday, losing its grip on the recent upward trend.
Participants might err on the side of caution, with yesterdayâs sell-off.
Expect volatility with the month-end portfolio closing while participants heed for 3Q earnings releases and guidance for 4Q and 2025.
The PSEi dipped by 1.37% w/w, closing at 7,314.23 (-101.50 pts).
The PSEI closed at 7,283.79 yesterday, down -1.14% intraday, losing its grip on the recent upward trend.
Having fallen below 7,300, market participants might bid for time for the gauge to stabilize, possibly above the 7,200 zone.
Another subdued session might prevail, as participants heed for other catalysts to support positioning, while monitoring the effects of the current typhoon.
The PSEI closed at 7,413.16 (+0.09%), exhibiting a sideways trend.
Another subdued session is seen, as participantsâ attention is swayed by developments on the typhoon within the area of Philippine responsibility.
Subdued sessions may continue, as some investors check on momentum improvement prior to positioning.
Sentiment could sway to optimism in the region, following latest steps taken by China to boost growth in its economy.
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