Market Outlook

The market may revert to ‘feeler-mode’ state, with the US’ 09 July tariff deadline.

The PSEi rose by 0.78% to close at 6,468.98, reflecting a modest recovery in market sentiment.

Eyes are set on the release of June inflation (estimated at 1.1%-1.9% range), widely seen to remain benign vs May’s 1.3%.

Participants may keep an eye for possible supply pressure on intra-day rallies, ahead of the US Independence Day break.

The PSEi is maintaining above 6400, closing at 6,423.85 with a 0.93% gain.

Sentiment might anchor on improved manufacturing readings in June plus S&P Global’s outlook on the local banking sector.

Sentiment might take its cue from Wall Street’s overnight ascent, on hopes for more trade accord.

The PSEi edged up by +0.08% to close at 6,330.65.

Another range-bound session is expected, as fund managers weigh on sequels once the 90-day tariff truce deadline expires, plus dialogues within the Israel-Iran ceasefire.

Sessions might move sideways, as participants prepare for quarter-end portfolio repositioning.

The PSEi closed at 6,292.75, up by 1.20%, showing a short-term bounce after recent downward pressure.

Local equities might take its cue from Wall Street’s continued advance, on hopes for results from Israel-Iran ceasefire.

Crude futures’ overnight retreat & breaking story of a ceasefire between Israel-Iran are set to lift optimism for equities.

The PSEi slipped 0.87% w/w to 6,339.77 (-55.82 pts.).

Expect supply pressure, following the weekend US bombing of Iran’s nuclear facilities.