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With regional peers and US markets rising on China-US trade deal prospects, eyes are set whether local equities would be able to recoup its poise to return above the 6,000 zone.

The PSEi declined by 1.67%, closing at 5,988.02 (-101.51 pts), breaking below the 6,000 level, which had previously acted as a key support.

Participants may take inspiration from Wall Street’s ascent, on rising support for a Fed rate cut given latest inflation data plus China-US trade summit on Thursday.

The index recognized a small rebound in value coming up from the consistent negative drop throughout the week, gaining by +0.38% well within the 50-day MA which suggests investors entering positions on key oversold equities in the market.

Sentiment might take its cue from Wall Street’s overnight gain, ahead of Trumpand Xi Jinping’s meeting next week.

Attention is fixed on the PSEi’s staying power above the 6,000 mark, as investors monitor possible continuity of yesterday’s selling pressure.

The index closed sideways, peaking on the green at 6,093.53 gaining little (+0.16%) throughout the open.

Attention is set anew on the PSEi’s ability to trounce past 6,100, as investors check supply presence on intra-day ascents.

Participants may continue to check supply pressure on intraday rallies, based on recent trend.