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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.

The index slipped -0.58% continuing the losing streak and continues to trade below all neutral key moving averages, keeping the broader tone bearish.

Mixed session is seen, as market participants balance 1Q headlines versus the wider geopolitical backdrop.

Equities investors are likely to assess prevalence of supply pressure, especially on intra-day rises, as several check on 1Q earnings data from select large-caps.

The PSEi declined by 0.93% w/w to 5,943.49 (-55.64 pts.), extending its pullback after failing to sustain levels above the 20-day moving average (MA).

Another lackluster session is seen, as market investors assess BSP’s priority to control inflation through hints of tightened policy, versus higher business costs in the wake of the Middle East conflict.

The index eased -0.10%, continuing to trade below all key moving averages, which keeps the broader setup cautious despite modest rebound attempts.

Follow-through reaction to BSP’s 25bps-rate hike plus continued high oil prices would likely be the main theme Friday.

Participants’ attention is on BSP’s scheduled monetary policy meeting, with consensus set for a status quo on interest rates.