Market Outlook

The PSEi bounced back by +0.46% w-o-w, after hitting a year-to-date low the previous week.

Part of the climb might stem from month-end portfolio positioning.

If the PSEi recovers, it can retest previous support-turned-resistance at 6,200 to 6,400.

Volatility may continue, as market participants check whether monetary authorities would proceed with the earlier hinted off-cycle rate hike.

To break below 6k levels?

Participants might take their cue from Wall Street’s incline, as political headlines simmer in the Israel-Hamas rift.

Eyes are set whether some participants would seize on the bourse’s current state to buy into

The PSEi ended Friday at 6,142.90 (down by -1.23% or -76.26pts), breaking the 62H threshold.

The PSEi dropped by -1.97% w-o-w to close at 6,142.90, breaking below the 6,200 support level.

Raining reds? The PSEi ended on a red declining by -0.78% or -49.11pts to 6,219.16 yesterday.

The mood might stay cautious for now, with global investors attuned to headlines on the Israel-Hamas conflict, including results of Pres. Biden’s visit.

Fingers-crossed this is not a dead cat bounce! 🤞🏻

Market participants would check for continuity of yesterday’s ascent, as investors heed for the release of 3Q earnings results from listed firms.

Expect volatile trades, as sentiment remains glued to geopolitical headlines.

Movements might remain limited for now, as the global investing community remain alert on the situation in the Middle East & potential ripple-effect to the commodities market.