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The local bourse barely budged last Tuesday, inching up by just +0.04% to 6,018.70 as the market stayed stuck in sideways mode.

Market participants will sift through headlines on Trump’s indefinite extension of ceasefire with Iran, versus continued US Navy blockage of Iranian ports.

Participants might go on wait-and-see mode, pending progress on the deadline of ceasefire between US-Iran.

The PSEi declined by 1.62% w/w to 5,999.13 (-99.08 pts) after failing to sustain a breakout above the 100-day moving average (MA), and the pullback toward the 20-day MA signals near-term weakness.

Expect range-bound movements for now, as sentiment remains anchored on political narratives from US-Iran’s new negotiation round, including conditions tied to the re-opening of the Strait of Hormuz.

The index closed at 6,063.69, marginally higher by 0.01%, as it attempts to stablize after recent downticks.

Participants might weigh feelers on Zaldy Co’s detention in Prague, IsraelLebanon’s 10-day ceasefire, as well as reports for weekend resumption of talks between USIran.

Local equities may continue to advance, as investors position for trading windows in select shares ripe for buying.

The index slipped -0.68%, staying below range bound MAs and keeping the broader tone cautious despite recent attempts to stabilize.

Participants might check on feelers whether the Philippine market would follow other Asian peers’ optimistic trail since yesterday, on resumption of talks as sequel to the USIran rift.

The market might take its cue from US equities’ overnight ascent, on hopes for resolution to the Middle East conflict.