The Philippine stock market is navigating a mixed outlook as the PSEi contends with renewed foreign selling, offset partially by improving domestic investor sentiment and anticipated foreign inflows into the local bond market.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi could retest support at 5,900 and potentially revisit the March 2026 low of 5,816.82 if risk aversion persists. “The broader upward trend remains intact as long as the index holds above 5,840,” he noted.
On the upside, a sustained move past 6,000, and eventually 6,100, would be needed to reinforce recovery momentum.
Meanwhile, the peso faces pressure against the dollar, with initial resistance between P60.70 and P61.20 and support at P60.25.
Ricafort highlighted potential appreciation toward P60.00 and the April 8 low of P59.33 if market sentiment improves.
2TradeAsia cautioned that elevated inflation, weak economic growth, and geopolitical risks continue to constrain market optimism, despite a 2.2 percent rebound in the PSEi last week.
The brokerage recommended a defensive stance, favoring high-yield, resilient stocks while maintaining liquidity amid expected volatility through the fourth quarter.
Minor resistance for the PSEi over the next two months is projected between 6020 and 6145, with major resistance at 6250-6350, approaching the February 26 peak of 6673.61.
