Market Outlook

Participants are seen to give weight on Fed chair Powell’s statement last Friday, supporting expectations for policy easing measures.

The PSEi rose by +1.67% w/w to close at 6,961.96 pts.

Volatile sessions are seen, as local participants prepare for the long weekend break.

The PSEi closed around the mid-6900s at 6944.76 (+0.80%).

Activity might be range-bound, as some participants might seize on the local market’s recent incline to profit-take.

Having trounced past the 6,800 barrier, participants’ attention may be pegged on the PSEi’s ability to march towards the 7,000 zone.

The PSEi rose by +3.00% w/w to close at 6,847.37 pts.

The PSEi closed just below the 6700s levels at 6692.91 (-0.18%).

Investors might take heart on the local central bank’s 25bps rate cut move yesterday, which would aid capex rollout initiatives among listed firms.

Attention is on BSP’s policy meeting, with emphasis on its outlook on inflation & interest rates.

The index closed on a high note yesterday, going up 56 bps to 6650.44, trading within a range of 6590.50-6758.28.

Sentiment might take its cue from Wall Street’s overnight ascent, as softer PPI gauge for July has strengthened expectations for a Fed rate cut.

Movements would likely be range-bound for now, as most fund managers heed for latest economic data in the US that could influence the Fed’s sequel policy actions.

Higher sessions are seen, as expectations build for a rate cut consideration on or before BSP’s policy meeting on 15 August.

The PSEi rose by +0.64% w/w to close at 6,647.80 pts.