Market Outlook

The local bourse continues to trade flat on further market indecision marked by RSI’s neutral reading of 52.09.

Another range-bound session is seen, with eyes set on energy agencies’ move to address the electricity situation.

The local bourse booked its third losing streak closing -0.25% as the broader trend remains rangebound, while continuing to trade beneath key moving averages.

Market participants will be heeding for various accord from the ASEAN summit, especially on bilateral pacts that reinforces security of staple supplies.

The PSEI closed at 6034.27 (+1.12%) as the index attempted to stabilize after a recent stretch of weakness, with recent candles resembling a modest rebound cluster near short term support.

Eyes are set whether local gauges would continue its upward trek, or pause for technical breathers.

Sentiment might take its cue from Wall Street’s overnight advance, on optimism for resolution to US-Iran rift.

The index closed -0.74% lower after a modest rebound, remaining below key moving averages as the local bourse prompted selling amid inflation figures.

The market may get feelers on participants’ reaction to April’s 7.2% inflation (four-month average of 3.9%), including BSP’s sequel action to control higher consumer prices.

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.