Market Outlook

Sessions might remain subdued for now, as investors check on catalysts that could boost aggressive buying.

Expect choppy trades, as attention might skew to the Senate Blue Ribbon’s sequel probe on flood control issue.

The PSEi increased by 2.54% w/w to 6,264.49 (+155.28 pts), breaking above the 6,200 level midweek.

Sentiment might take its cue from US equities’ Friday rally, on hopes for continued easing cycle from the Fed.

The PSEi extended its rebound, closing at 6,233.62 with a +0.37% gain as it attempts to stabilize above the 6,200 support zone.

Possible profit-taking might be in store, given the local bourse’s run-up.

Participants might laud the Fed’s move to reduce its benchmark interest rate by 25bps, with hints for more potential cuts in sequel meetings for 4Q.

The PSEi came off stronger from its previous week stretch, closing with a gain of +1.51% on par with its latest resistance level indicating a rally from investors.

Participants will check for possible follow-through rallies, given the previous session’s ascent.

Attention remains whether the PSEi can detach itself from domestic political headlines, as fund managers focus on the Fed’s anticipated policy easing call this week.

The PSEi slipped by another 0.65% w/w to close at 6,109.21 (-39.92 pts.), just above the 6,100 support.

Market investors’ focus is on the US FOMC’s 16-17 September meeting this week, as expectations build for 25bps rate cut on the widely-followed Fed rate.

The PSEi inched up by +0.11% to close at 6,126.89, holding slightly above the 6,100 support zone.

Another range-bound session is seen, as market investors await for other catalysts to support positioning.

Another range-bound session is seen, as market investors await for other catalysts to support positioning.