The Philippine stock market is expected to stay under pressure in the near term, as global uncertainties and a weak peso continue to dampen investor sentiment, according to 2TradeAsia.com.
The brokerage noted that the PSEi fell 109 points week-on-week to 5,833.64, with broad-based selling driven by heightened risk aversion and the peso’s slide to historic lows. Losses were particularly pronounced in holding firms and property stocks.
“Expect a challenging environment for sustaining aggressive risk positioning in Philippine equities,” 2TradeAsia said, pointing to geopolitical tensions, elevated oil prices, and a stronger US dollar as key concerns.
It added that the US Federal Reserve’s cautious stance on inflation—partly fueled by rising energy costs—has reinforced expectations of further rate hikes, adding strain on emerging markets. The peso’s continued weakness also limits the Bangko Sentral ng Pilipinas’ flexibility to ease monetary policy.
With macroeconomic headwinds in focus, attention is shifting toward corporate earnings, where firms are likely to prioritize cost discipline and margin protection.
2TradeAsia identified immediate support for the PSEi at 5,800 and resistance at 6,050, with a secondary ceiling at 6,300.
Meanwhile, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the peso could find support between P61.00–P61.20 and P60.80, with stronger support at P60.25–P60.55. Resistance is seen at P61.75–P62.00—near record highs—suggesting continued volatility ahead.
