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Manila Bulletin devider Business devider The Stock Market devider Investors await Fed, BSP decisions amid bearish market sentiment

Investors await Fed, BSP decisions amid bearish market sentiment

Published Dec 15, 2024 09:27 pm

Stock market investors are hoping that the policy meetings of the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve this week will spur bargain-hunting as share prices remain low amid bearish market sentiment.

According to Philstocks Financial, investors are looking for positive catalysts, such as a rate cut from both central banks, to drive market participation.

"From a valuation standpoint, the local market remains at attractive levels and is hence good for bargain hunting," said Philstocks Financial Research Manager Japhet Tantiangco.

"However, investors are expected to continue waiting for positive catalysts before getting into the market strongly. This week, investors are expected to look forward to the policy rate decisions of the Federal Reserve and the Bangko Sentral ng Pilipinas. A rate cut from the two as well as hints of further easing are expected to give a boost to sentiment which in turn could help the market achieve a positive close," Tantiangco added.

2TradeAsia.com noted that US inflation hit 2.7 percent in November, slightly higher than previous months, but still within a range that could lead to a rate cut.

Meanwhile, local inflation is relatively more subdued, giving the BSP some leeway to cut rates on its final meeting on Dec. 19.

However, 2TradeAsia.com cautioned that movements from the Fed could still impact the Philippine market, especially with the peso-dollar exchange rate remaining volatile.

Abacus Securities Corporation has identified Manila Water Company as one of its top picks for 2025, citing its strong earnings performance and the anticipation of a generous dividend declaration in March.

The firm also expects SM Investments and SM Prime to benefit from the recovery of domestic discretionary spending next year.

Related Tags

Japhet Tantiangco Abacus Securities Corporation 2TradeAsia.com Philstocks Financial
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