Market to scrutinize PH economic data
AS the market consolidates just under the 8,000 resistance level on the PSEi, investors in search of fresh catalysts are likely to train their sights on economic data to be released this week.
Among the numbers that could serve as market- moving gross international reserves.
“The interplay of these variables will be weighed with the peso-dollar trend, having breached an intra-week high of as - sia said in a market note.
“The same will be paralleled with importation demand for capital goods for the third quarter, especially for entities preparing for the seasonal fourth quarter spending kick,” it said.
- tations of no policy change on interest rates from the central bank.
“Possible positive junctions might occur, however, on central bank chief Nestor Espenilla’s consideration to reduce the banking system’s reserve requirement ratio, currently at 20 percent, which could induce improved lending,” said 2TradeAsia.
“Any hint on the commencement of infra spending and efforts to support corporate earnings growth will reinforce investors’ valuation perception, especially those in the hunt for better re- turns,” it added.
Corp. President Marita Limlingan expects the market players to reposition their portfolios ahead of second quarter corporate results.
The PSEi dropped 50.95 points or 0.64 percent to finish at 7,885.90 on Friday. The broader All Shares lost 17.90 points or 0.38 percent at 4,735.82.