Market Outlook

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

The PSEi increased 0.72% w/w to 6,458.20 (+46.34pts), remaining above its 6,400 support as well as its 20-day, 50- day, and 100-day moving averages (MA).

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.

Following a short climb, the PSEi fell -1.17%.

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.

Following a strong continuation of the recent uptrend, the PSEi edged higher and consolidated near the 6,500 mark.

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.

The PSEi increased 2.28% w/w to 6,411.86 (+143.11pts), breaking past its 6,400 resistance as well as its 20-day, 50- day, and 100-day moving averages (MA).

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.

Following the doji from the previous day, the index gained +1.64%.

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

The index wrapped up the session relatively flat closing at 6,252.19 (+0.04%).

Gauges might finish on the plus-side, with latest headlines on tariff relief packages for the US auto industry, & Fitch’s affirmation of investment grade on the Philippines.