2 weeks ago
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Richmond Mercurio - The Philippine Star
March 3, 2025 | 12:00am
The benchmark Philippine Stock Exchange index (PSEi) fell below the 6,000 mark last Friday due primarily to the MSCI rebalancing, ending the session at 5,997.97, down by 1.64 percent week-on-week.
STAR / File
MANILA, Philippines — Sideways trading is expected to persist in the local stock market this week, with opportunities for bargain hunting seen after a dismal finish last week.
The benchmark Philippine Stock Exchange index (PSEi) fell below the 6,000 mark last Friday due primarily to the MSCI rebalancing, ending the session at 5,997.97, down by 1.64 percent week-on-week.
Unicapital Securities head of research Wendy Estacio-Cruz said the lack of fresh catalysts as well as global uncertainty amid new tariffs imposed by US President Donald Trump also added to the market’s woes last week.
For this week, Estacio-Cruz said the PSEi is expected to range between 5,800 and 6,200.
Among the major drivers seen in the coming days are the continuous influx of corporate earnings results, while bargain hunters could provide the market a needed boost.
Online brokerage firm 2TradeAsia said that inflation could take center stage as the summer plus election seasons coincide in May, on top of more clarity regarding geopolitical and trade fears.
“We reiterate a focus on deep value as major liquidity events of the first half have passed and the capital boost from RRR cut may aid in the re-rating of multiples. External risks continue to cap rallies, but mean reversion and factor rotation could create tactical opportunities once confidence stabilizes,” it said.
