F. Yap Securities / 2TradeAsia

Participants may get feelers on the market’s overall response to Pres. Trump’s 50% tariff on all EU goods starting June, to gauge whether this would set the tone this week.

Eyes are set on PBBM’s new cabinet team, following the revamp headline.

Continuation of prior session’s trend is seen as participants position in select oversold shares.

Participants may adopt another feeler mode, to gauge if supply pressure would still be felt in select large-caps from prior session’s profit-taking (i.e., holding firms, banks).

Participants will monitor the market’s absorption of the sovereign credit downgrade in the US, coupled by series of slower economic data growth in the region.

Upward finishes are seen, as investors seize on the latest lull to position.

Sessions might be range-bound, as investors parse through 1Q results from listed shares & factor-in guidance for the remaining stretch this year.

Market participants are seen to sift through 1Q results, specifically on core earnings from select large-caps.

Sentiment may turn receptive to China-US accord to lower tariffs during their 90-day truce, plus the relatively peaceful outcome of the local elections.

Participants may continue to parse through 1Q results, as well as forward guidance from select large caps.

From inflation, attention would shift to 1Q25 GDP data, expected to be released Thursday.

The market might be receptive to April’s inflation (1.4% vs March’s 1.8%), & likely to switch attention to the local central bank’s policy response.

Similar pattern may be seen, as fund managers await for results from the Fed’s policy meeting.

Market’s attention might sway to the Fed’s policy move on 06-07 May meeting, plus the release of Philippine 1Q GDP on 08 May.

Sentiment might take its cue from expectations for possible 100bps rate cut from the Fed following frail 1Q GDP in the US (-0.3%).