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Stock Market Weekly: PSEi to remain under pressure
This week, global events may dictate market movements, with a potential for a slight rebound.
By First Metro Securities Research
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WHAT HAPPENED LAST WEEK
Last week, the Philippine stock market ended at 6,352.12, down 144.20 points (-2.22% week-on-week), as the index struggled with heightened risk aversion ahead of US President Trump’s inauguration as the 47th US President and the release of the US December inflation print.
Most of the decline occurred early in the week, with broad-based losses and foreign selling weighing heavily on sentiment. By midweek, gains from bargain hunting in select sectors were short-lived as a late-session sell-off reversed optimism. The week closed with a modest rebound, driven by opportunistic buying in financials and holding firms.
Investors also digested mixed developments locally and internationally: 1) Fitch Solutions’ upgraded economic growth outlook for the Philippines at 6.3% for
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