Welcome to PinoyInvestor!

Market participants will be heeding for various accord from the ASEAN summit, especially on bilateral pacts that reinforces security of staple supplies.

The PSEI closed at 6034.27 (+1.12%) as the index attempted to stabilize after a recent stretch of weakness, with recent candles resembling a modest rebound cluster near short term support.

Eyes are set whether local gauges would continue its upward trek, or pause for technical breathers.

Sentiment might take its cue from Wall Street’s overnight advance, on optimism for resolution to US-Iran rift.

The index closed -0.74% lower after a modest rebound, remaining below key moving averages as the local bourse prompted selling amid inflation figures.

The market may get feelers on participants’ reaction to April’s 7.2% inflation (four-month average of 3.9%), including BSP’s sequel action to control higher consumer prices.

Supply pressure might step in, as participants weigh Pres. Trump’s assurance on the safe passage of commercial vessels at the Strait of Hormuz.

The PSEi fell 1.85% or 109.85 pts. w/w to close at 5,833.64.

The market might take its cue from US equities’ Thursday advance (mainly on positive 1Q GDP), as investors sift through 1Q earnings releases from select large-caps.

The highlight is on the current impasse in peace negotiations between US-Iran, with an extended timeline seen to impact global economies.