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A key vulnerability is the proximity to a death cross, with the 50-day moving average nearing the 200-day moving average, which could signal a bearish trend if crossed.

Reinforced support from the BSP for the likelihood of August’s rate cut may support sentiment for local equities.

The spotlight is on local monetary authorities’ policy meeting, with consensus skewed for another status quo.

The index closed at 6299.05, within a range of 6272.46-6307.51.

Local equities may continue to advance for the third straight session, as some investors position in select large-caps.

Participants are likely to monitor continuity of yesterday’s recovery, especially for select sectors that led the rise (I.e., property & services).

The PSEi closed sharply at 6158.48, a volatile session within 6158.48-6394.33.

Caution might be the main theme this week with the quarter-end portfolio closing.

The PSEi rose by 1.33% w/w to close at 6,518.76 (+85.66 pts).

Sentiment might take its cue from DJIA’s ascent, on prospects for the Fed’s policy easing & reports of accommodative policies from China.