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The PSEi dropped by 1.29% to close at 5,629.07, extending its decline as persistent selling pressure weighed on market sentiment.

Having cracked below 5,700, participants might stay on the sidelines for now, until gauges firm-up a solid base.

Monitoring on interim results continues, as participants assess the depth of consumer demand and investment initiatives for the remainder this year.

Having slipped below 5,800, buyers might remain at bay for now, to wait until supply pressure ebbs, especially on intra-day ascents.

Expect volatility to continue, as participants seek feelers whether the PSEi would recoup its poise back to the 6,000 zone.

The index reflected a modest rebound, increasing by +0.67% to close at 5,867.04, recovering from last week’s persistent declines as investors cautiously re-entered selective oversold positions.

Eyes are fixed on continuity of the PSEi’s rebound, as participants gauge whether weaker 3Q GDP and higher inflation numbers have already been factored into prices.

Participants may go through another ‘feeler mode’ for local equities, given the extent of supply pressure from yesterday’s trades.