F. Yap Securities / 2TradeAsia

Slower year-on-year (YoY) GDP growth comparison is expected, with high base effect for 1Q23.

After April’s latest CPI, participants will be heeding for the release of 1Q24 GDP data (coming from 1Q23 GDP of +6.4%, 4Q23 GDP of +5.6%).

April’s inflation print (3.8% vs. March’s 3.7%), would bring the four-month average to 3.425%, compared to prior year’s 7.875%.

Expect choppy sessions, ahead of April’s inflation announcement as well as latest headlines in the Middle East ceasefire talks.

Sentiment might take its cue from Wall Street’s incline Friday (DJIA +1.18%, Nasdaq Comp. +2%), as Fed rate cut prospect resurfaces.

Higher but volatile sessions are seen with end-April’s portfolio repositioning.

Sentiment might take its cue from Wall Street’s ascent, as participants assess select batches of 1Q results from select listed shares.

Participants would monitor reception to slower-than-expected 1Q US GDP, as well as higher inflation print.

Local gauges may continue its positive trend, as sentiment takes its cue from Wall Street’s strength.

Local equities might take its cue from Wall Street’s upbeat trend, as participants await the release of more 1Q earnings report.

Local equities may continue to reinforce its strength, given the latest trend.

Market participants will monitor continuity of the local bourse’s recent recovery, possibly back to 6,500.

Market participants will monitor continuity of Friday’s supply pressure, especially with softer gauges from Wall Street & crude’s ascent as a result of geopolitical headlines.

Recovery angles are seen, as the PSEi reverts back to 6,800-6,850 zone.

Comparative inflation is slowing, as 1Q24 average was at 3.3%, compared to 1Q23’s 8.3% and 4Q23’s 4.3%.