Investor sentiment in the local stock market is expected to remain bearish this week due to prospects of fewer rate cuts in 2025, a weakening peso, and concerns related to the government’s budget for next year. "The local market is turning more bearish as it extended its decline last week," said...
JG Summit Holdings Inc., the flagship of the Gokongwei Group, is planning a temporary shutdown of its petrochemical business in the hope of reducing its operational losses. “Management noted that the petrochemical industry continues to face significant challenges, marked by continued softness in...
The local stock market is expected to move sideways this week as stocks are at bargain levels, but negative sentiment ahead of inflation data could still impact prices. “With the market at attractive levels, we may see some instances of bargain hunting. However, we expect lingering concerns to...
Despite stock prices falling to bargain levels, the market remains bearish amid concerns about the weaker peso, potential US interest rate cuts, and US policies under the new political leadership. “The local market’s technical indicators continue to show a bearish bias, with the bourse falling...
The local stock market continues its bearish trend, breaking below the 7,000 support line, but, cheaper prices and the prospect of a rate cut may encourage buying activity while investors await foreign direct investment and remittance data. "Foreign funds have been exiting the market, and technical...
While the recent market decline has brought share prices to attractive levels which may spark some bargain-hunting, stock market investors are seen to be wary due to the US elections and the release of the October inflation data. “The local market has exhibited bearish movements in last week’s...
Local stock market bulls will be looking at the start of the earnings season for more steam to continue its run after hitting a wall at the 7,400 to 7,500 as the weakening of the Peso together with offshore uncertainties weigh on sentiment. “With the local market still deemed to be attractive, we...
The two recent rate cuts by the Bangko Sentral ng Pilipinas (BSP) amounting to 50 basis points is not expected to affect the earnings of banks until the middle of 2025 although the sector has been outperforming in the local stock market. “The banking sector continued to outperform the market,...
Local stocks will be taking cues from the central bank’s policy meeting but the start of the week may see some bargain-hunting after the market pulled back last week following a rally that lasted five straight weeks. “Trading has toned down as seen in the thinning value turnover and foreigners...
Tensions in the Middle East is threatening to stop the stock market bull in its tracks although the low September inflation may continue to boost investor sentiment as it may lead to lower interest rates and higher consumer spending. Philstocks Financial Research Manager Japhet Tantiangco said...
The local stock market is seen to remain bullish and try to breach the 7,500 level this week although there will continue to be bouts of profit-taking—making it more volatile. While the Philippine Stock Exchange is already in a bull market, Philstocks Financial Research Manager Japhet Tantiangco...
The local stock market may see initially some profit-taking this week following its recent rally although sentiment remains generally upbeat and will continue to buoy share prices. “The local market has been showing bullish momentum, rising for three straight weeks, with the latest one getting it...
