Weekly Equities Summary and Outlook : October 8 – October 12, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The PSEi may hover between 6,800-7,000 as rising domestic inflation and interest rates and global uncertainty about trade, rising US interest rates and escalating tension between US and Saudi Arabia over the fate of Saudi journalist Jamal Khashoggi that could potentially lead to speculative spike in oil prices continue to dampen sentiment. China’s central bank governor Yi... Read More

Weekly Equities Summary and Outlook : October 1 – October 5, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The PSEi may test the 7,000 support level amidst persistent negative sentiment arising from accelerating domestic inflation, sustained PHP weakness, rising interest rates and unabated net foreign outflows now on its 28th consecutive trading days. Key economic data to be released this week is the August’s balance of trade (Oct. 10) which is anticipated to hit a... Read More

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

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. We expect the PSEi to sustain its weakness this week as the market awaits the September inflation print to be released on Friday (Oct. 5) which is anticipated to reach as high as 7.1% y/y, coupled with lingering external headwinds from trade concerns. On a positive note, US and Canada’s last minute deal to salvage the trilateral... Read More

Weekly Equities Summary and Outlook : September 17 – September 21, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Outlook. We expect the PSEi on a downward bias due to run-away inflation worries. Despite the expected 50bps rate hike of the Bangko Sentral ng Pilipinas’ (BSP) on Thursday, the market may not do a relief rally back to near-term high of 7,500 given emerging consensus forecasts of 7%-7.4%. It implies inflation is yet to peak.... Read More

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

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. We expect the PSEi to continue its downward bias as global trade tension re-emerged after Pres. Trump approved new tariffs worth $200bn of Chinese exports and threatened tariffs on $267bn more Chinese goods. On the domestic front, investors will await the Monetary Board (MB) meeting on Sept. 27 which is expected to raise policy rates by another... Read More

Weekly Equities Summary and Outlook : September 3 – September 7, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Market Outlook. We expect the PSEi to trade around its critical support of 7,500 amidst continued concerns on Philippine inflation and trade war. Locally, investors were shocked on August inflation of 6.4% which reached a 9-year high and exceeded the 5.9% consensus estimate and the Bangko Sentral ng Pilipinas’ (BSP) 5.5% to 6.2% expected range. Consequently,... Read More

Weekly Equities Summary and Outlook : August 27 – August 31, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. We expect the PSEi to hover around 7,800 with a downward bias amidst concerns on further escalation of the US-China trade spat and emerging market woes precipitated by huge currency sell-off in Turkey and Argentina. On the domestic front, investors will await the August inflation print to be released tomorrow (Sept. 5) that is widely anticipated to... Read More

Weekly Equities Summary and Outlook : August 20 – August 24, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Outlook. We expect the PSEi to trade around 7,800 amidst the lack of catalysts. There’s an upward bias as Asian markets closed higher yesterday after Federal Reserve Chairman Jerome Powell reassured a gradual approach to raising rates. In China, the central bank announced changes to its methodology for fixing the yuan to support the currency. The... Read More

Weekly Equities Summary and Outlook : August 13 – August 17, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. We expect the PSEi to hover around 7,400-7,600 as the market awaits for new catalysts amidst disappointing economic data and lower-than-expected corporate earnings. US market bull run, with S&P hitting an all-time high, could provide lift to the market as well as positive news flows on inflation counter-measures, rice tariffication and TRAIN 2. The market is also... Read More

Weekly Equities Summary and Outlook : August 6 – August 10, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. We expect the PSEi to trade between 7,600-7,900, with a downward bias as the market digests lower-than-expected Q2 GDP and Monetary Board’s (MB) 50-bp rate hike, coupled with weaker global sentiment amidst contagion fears over Turkey’s currency crisis that could spread to Europe given European lenders’ huge exposure to Turkish debt. Meanwhile, earnings results of 25 out... Read More