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Expect subdued sessions and movements within narrow band, with most fund managers on their Lunar New Year break.

The PSEi declined 0.1% w/w, closing at 6,384.58 (-6.33 points), and is currently trading above its 50-day, 100-day, and 200-day moving averages (MA).

The index corrected after its recent rally, pulling back 0.42%, but still trading above key moving averages.

Profit-taking may continue, ahead of next week’s Chinese Lunar year break, while some fund managers seize this trend to reposition portfolios.

Expect volatile trades, as some investors seize on the recent ascent to cash-out to reposition portfolios and next week’s Chinese Lunar year break.

The index closed at 6474.60 as it ended higher today (+1.98%), as it continues to consolidate above key moving averages.

Eyes are set whether local gauges would move above the 6,500 barrier, given yesterday’s advance.

Participants might monitor possible continuity of yesterday’s MOC supply pressure, as focus sets on MSCI’s portfolio review (effective 02 March).

The PSEi increased 0.98% w/w to 6,390.91 (61.94 pts.) trending above the 20-day moving average.

Local equities would take its cue from Wall Street’s Friday surge (DJIA +2.47%, Nasdaq Comp. +2.18%) as well as improved manufacturing indicator for December & higher GIR for January.