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The PSEi increased 0.98% w/w to 6,390.91 (61.94 pts.) trending above the 20-day moving average.

Local equities would take its cue from Wall Street’s Friday surge (DJIA +2.47%, Nasdaq Comp. +2.18%) as well as improved manufacturing indicator for December & higher GIR for January.

The index ended slightly higher (+0.14%) at 6,382 as it continues to trade near key moving averages.

Sentiment might take its cue from US equities’ overnight weakness, although downsides are seen to be muted, given the lack of other tech sector plays at home.

Similar prior session trend is seen, as markets weigh S&P Global’s credit rating upgrade consideration for the Philippines, vis-a-vis the release of 4Q corporate earnings.

The index rebounded strongly, closing +1.67% higher after hovering around the 6,200–6,300 levels, and it continues to trade above key moving averages.

Market participants will monitor continuity of the PSEi’s positive angle, although some might seize on this strength to cash-out.

Sentiment might anchor on the latest improvement in PMI gauge for January, hinting return to economic activity.

The PSEi declined 0.07% w/w to 6,328.97 (-4.29 pts.) after moving below the 20-day moving average, keeping the index within a short-term bearish channel.

Having recouped its poise, fund managers may view with clearer lens on the local economy’s improved growth angle this year.

The index closed after a sharp -2.08% drop to 6,223.36 but continues to trade above key moving averages.