The 90-day tariff truce extension between China-US and oil prices that have simmered following peace talks being arranged by the US on Russia-Ukraine, augur well in fund managers’ inflation expectation over the near-term.
JGS surged gaining +6.61% with the stock reaching as high as 25.80, booking current year highs.
PLUS declined -5.05% to close at 31/sh after yesterday’s huge uptick pushing the stock above 30 level.
DDMPR closed with its second doji of the week, settling just under the MA-50.
The PSEi rose by +0.57%, ending at 6,289.85, as market participants showed hesitation ahead of potential catalysts.
Sentiment might take its cue from US equities’ overnight advance, following tamer July CPI data.
Possible follow-through weakness will be monitored, as some fund managers seize on dips to position in select shares.
Eyes are set on the revised PSEi member-basket, with possible rotation into stellar sectors (i.e., gaming, industrials, mining/oil).
AC declined by -0.84% to close at 590.00, continuing its sideways consolidation.
The PSEi slipped by -0.09% to close at 6,364.69.
Market watchers would check on overall reception to better-than-expected 2Q GDP of +5.5% (vs 1Q’s +5.4%), as several heed for BSP’s sequel direction on its policy easing cycle.
Anticipation on the release of 1H GDP may prod positioning in equities, partly with support coming from the agri sector.
Market participants might laud July’s tamer inflation, that is seen to widelysupport policy easing on domestic interest rates.
Momentum may continue, as participants position in bargain shares with solid prospects for 2H.
The PSEi slipped 1.67% w/w to 6,306.13 (-107.05 pts), erasing all its gains from last week and falling below all key moving averages.
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