Welcome to PinoyInvestor!

The PSEi dropped further by -2.17% with major equities leaning more towards the red, pushed by selling momentum, indicating continued bearish sentiments.

Market investors might stay watchful for possible continuation of prior session’s selling pressure, specifically on sectors that led the weakness (i.e., services, financials).

The PSEi slipped 0.54% w/w to 6,281.58 (-34.40 pts.), trading rangebound within a descending triangle pattern.

Zest for equities might be the overriding theme this week, given Fed chief Powell’s hint for possible easing on interest rates.

Sideways movement may continue for local equities, given the extended weekend break.

The PSEi closed lower by -0.18% at 6,277.67, as trading remained range-bound with little conviction from either side.

Another range-bound session is seen, as some traditional traders lighten on positions with the start of Ghost month (23 August to 21 September).

Expect sideways session for now, as equities investors sift through latest corporate earnings data & heed for other catalysts to warrant positioning.

Investors will check on feelers for continued MOC-boost, with several stocks moving at their oversold state.

Market watchers may monitor possible continuity of yesterday’s supply pressure, while digesting on 1H corporate earnings results.