THE stock market could continue moving sideways this week as investors weigh bargain-hunting opportunities against lingering economic and political risks, analysts said.<\/p>\n
The benchmark Philippine Stock Exchange index (PSEi) was rangebound last week and closed at 6,089.53 on Friday. While up 0.86 percent week on week, it has fallen by 6.73 percent since the start of the year.<\/p>\n
Philstocks Financial Inc. research manager Japhet Tantiangco said the market\u2019s movement reflected \u201cinvestors\u2019 indecisiveness in terms of direction.\u201d<\/p>\n
\u201cFor the last three weeks, the local market has been moving sideways, reflecting investors\u2019 indecisiveness in terms of direction,\u201d he said, even at undervalued levels that present bargain-hunting opportunities.<\/p>\n
Tantiangco, however, acknowledged that concerns over \u201cthe Philippines\u2019 tempered outlook amid the corruption issues and offshore headwinds pose downside risks.\u201d<\/p>\n
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By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service<\/a> and Privacy Policy<\/a>.<\/p>\n \u201cFor the most part, trading has been tepid, reflecting low investor participation as many stay on the sidelines amid the uncertainties,\u201d he added.<\/p>\n This week\u2019s movement, Tantiangco said, will depend on how investors weigh bargain opportunities against lingering risks, adding that \u201cfresh leads are deemed needed to push the market into a specific direction with conviction.\u201d<\/p>\n Cues could come from global financial movements, while improvements in the peso and local treasury yields \u201cmay give the market\u2019s movement an upward bias.\u201d<\/p>\n \u201cChartwise, the local market managed to hold its position above its 10-day exponential moving average in last week\u2019s trading, which is taken as a positive sign,\u201d Tantiangco said.<\/p>\n Online stock brokerage firm 2TradeAsia.com, meanwhile, said investors were closely monitoring global central bank actions and geopolitical developments.<\/p>\n \u201cThe Fed (US Federal Reserve) edges toward easing with a 25-[basis point] cut widely anticipated at the October 28-29 FOMC (Federal Open Market Committee) meeting, alongside signals that quantitative tightening could wrap up in early 2025 as reserves stabilize,\u201d it said.<\/p>\n 2TradeAsia noted that \u201cmessaging from Fed officials remains divided… amid sticky inflation and softening jobs data,\u201d a situation that amplifies \u201cglobal uncertainties, particularly in emerging markets.\u201d<\/p>\n \u201cBenign local inflation,\u201d meanwhile, could pave the way for another 25-basis-point rate cut by the Bangko Sentral ng Pilipinas in December.<\/p>\n Investors should favor \u201cresilient plays to harness near-term rate relief\u201d while remaining cautious, 2TradeAsia said, as \u201cvolatility rewards the vigilant; trim risks, hunt value.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"THE stock market could continue moving sideways this week as investors weigh bargain-hunting opportunities against lingering economic and…\n","protected":false},"author":2,"featured_media":211542,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[91051,84,900,91049,467,91050,91048,91047,4384,56,54,55],"class_list":["post-211541","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-b1sideways","tag-business","tag-from","tag-leads","tag-markets","tag-neededn","tag-seen","tag-sideways","tag-trading","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/211541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=211541"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/211541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/211542"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=211541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=211541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=211541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}