Market Outlook

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).

Expectation build-up for a December rate cut from the Fed might support buy positions in local equities.

The PSEi failed to climb above the 200-day-MA and declined by 2.45% w/w to close at 6,613.85 (-166.28) amid heavy foreign selling.

Local investors will be on a wait-and-see mode, to check if supply pressures have softened, as several heed for prospective recovery rallies given the local bourse’s recent weakness.

The PSEi declined to the 6,600 level, down -0.96% intraday, remaining below its 50, 100, and 200-day MAs.

Light sessions are seen, with fund managers off for the US Thanksgiving break.

Caution might dominate sentiment for local equities, following the previous session’s weak trail.

The PSEi gradually hovers above the 6,800 level closing at 6,806.86, down -0.63% with stock prices moving above the 200-day MA.

The PSEi snapped its 4-week losing streak as it recovered from oversold conditions, rising by 1.55% w/w to close at 6,780.13 (+103.48).

The PSEi gradually advanced to the 6,800 level from last week’s close, with stock prices moving above the 200-day MA.

Participants will monitor possible continuity of yesterday’s weak tone, while gauging prospective positioning in select large-caps.

Volatility may continue, as eyes are set whether local gauges would mimic prior session’s MOC-boost.

The PSEi rebound back to 6,800 mark, closing down +0.62% intraday, as market continues to recover from the the huge sell-off since last week.