Weekly Equities Summary and Outlook : February 11 – 15, 2019

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The PSEi may trade higher this week, between 8,000-8,100, amid optimism on US-China trade deal after the leaders of both countries sounded upbeat on the progress of the trade talks over the weekend. Investors will also closely await the release of the FOMC minutes on February 21 to look for signs that could veer off the Fed... Read More

Weekly Equities Summary and Outlook : February 4 – 08, 2019

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The market may consolidate between 8,000-8,100 this week in the absence of progress in the US-China trade talk (especially on intellectual property). The trade truce will end on March 1. The market will also take its cue from earnings results this week from GLO (February 12) and ALI (February 15). So far, earnings results (for full year... Read More

Weekly Equities Summary and Outlook : January 14 – January 18, 2019

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The PSEi may trade between 7,900-8,100 this week amid improving domestic macroeconomic picture and optimism over US-China trade negotiations after China is said to offer to ramp up imports from the US by more than $1trn over the next six years to reduce its trade surplus. However, China’s slower GDP growth in 2018 at 6.6% (albeit within... Read More

Weekly Equities Summary and Outlook : December 31 – January 4, 2019

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The PSEi may trade between 7,600-7,900 with an upward bias as investors digest the sharp deceleration in domestic inflation to 5.1% and amid dovish Fed, monetary easing in China and resumption of US-China trade talk that could stoke renewed risk appetite. Key domestic economic data to be released this week are: money supply and bank lending for... Read More

Weekly Equities Summary and Outlook : December 24 – December 28, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The PSEi may trade cautiously above 7,500 this week ahead of the release of the December inflation on January 4 which the market widely anticipates to further decelerate from November’s 6% print and amid Pres. Trump’s announcement over the weekend of positive developments in trade talks with China. Meanwhile, China’s disappointing Caixin PMI manufacturing data for December... Read More

Weekly Equities Summary and Outlook : December 10 – December 14, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The PSEi may hold at 7,500 by weekend should the US Fed sound dovish which is what many expect in its last meeting this year on December 20 (PH time). Investors are trying to digest some clues on Fed’s policy path next year as it reassesses global growth prospects following weak economic data from key economies of... Read More

Weekly Equities Summary and Outlook : November 26 – November 30, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The 7,400 level may become PSEi’s new support amid optimism following the US-China trade war truce that will temporarily suspend the implementation of higher tariffs on $200bn worth of Chinese exports originally scheduled on Jan. 1, 2019, which helps ease concerns over slowing global growth. On the domestic front, investors await the release of the November inflation... Read More

Weekly Equities Summary and Outlook : November 19 – November 23, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The PSEi may sustain its upward trajectory amid improving domestic sentiment over slowing inflation and stronger peso. Bangko Sentral ng Pilipinas (BSP) and central banks in emerging markets (EMs) have done their share of rate hiking aimed at curbing inflation and bridging interest rate differential vs US benchmark will help ease pressure on currency. Dollar’s weakness amid... Read More

Weekly Equities Summary and Outlook : November 12 – November 16, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. PSEi may test the next resistance of 7,400 as market digests Monetary Board’s (MB) 25-bp rate hike last week, seen as a proactive stance to temper risk to inflation outlook, and the Bangko Sentral ng Pilipinas’ (BSP) downward adjustment of inflation forecast to within the target range of 2-4% for 2019. Other favorable news are the de-escalation... Read More

Weekly Equities Summary and Outlook : November 5 – November 9, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. PSEi will stay trapped within 6,900-7,000. Two reasons: (1) We bet BSP will raise rate by another 25 bps this week due to elevated inflation; October print was 6.7%, (albeit a deceleration on a month-on-month, m/m, to 0.3% from August-September’s 0.9%). (2) Disappointing corporate earnings in nine months of the year (9M18), up 5.5% vs full year... Read More