Equities to remain range bound

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December 1, 2025 | 12:00am

MANILA, Philippines — The local stock market will attempt to sustain its momentum this week after successfully clawing its way back to the 6,000 level last week, with investors remaining on the lookout for fresh catalysts.

The benchmark Philippine Stock Exchange index (PSEi) finished in positive territory last Friday at 6,022.24, up by 0.42 percent week-on-week.

The broader All Shares index, for its part, rose by 4.38 percent week-on-week after closing at 3,568.34.

Reyes Tacandong & Co. senior adviser Jonathan Ravelas said the market is expected to remain range bound between 5,800 and 6,050 levels in the near-term.

“Profit taking, (is likely to happen) given the recent rally, but it’s a buy on dip ahead of Bangko Sentral ng Pilipinas (BSP) rate cut,” First Metro Investment Corp. head of research Cristina Ulang said.

Despite closing above the 6,000 level last week, however, Philstocks Financial research manager Japhet Tantiangco said the local bourse is still considered on a downtrend as it has not yet surpassed its Oct. 20 peak of 6,141.87.

Tantiangco added that the local bourse is still undervalued, with the market trading at a price-to-earnings ratio of 10.1x as of last Friday’s closing, below its average of 17.3x over the last five years.

In the coming days, he said investors are seen looking toward upcoming economic data for clues that would aid them in their decision making.

“Investors are expected to look toward the Philippines’ November inflation data, with a low print expected to boost sentiment as it would support BSP rate cut expectations,” Tantiangco said.

“Investors may also take cues from the S&P Global Philippines Manufacturing PMI. Finally, investors may monitor the peso’s movement with a further appreciation expected to help the local market,” he said.