PROSPECTS of an August easing could continue to cheer investors and see the rate-sensitive stock market move up this week, analysts said.
The bellwether Philippine Stock Exchange index has regained ground following two straight weeks of decline, ending 1.64 percent higher week-on-week at 6,618.69 last Friday.Bargain hunting is still possible as the PSEi remains at attractive levels, Philstocks Financial Inc. senior research analyst Japhet Tantiangco said.The Bangko Sentral ng Pilipinas' 'less hawkish' stance, he added, could continue to 'give sentiment a boost week.
'We anticipate a continuation of this softness as the full impact of the elevated inflation, strong dollar, and volatile energy prices, among others, manifests into earnings,' it added.Chart-wise, analysts said the stock market's support and resistance would be at 6,400 and 6,700, respectively.Monetary authorities last Thursday kept the status quo on policy rates for a fifth straight meeting, noting continued inflation risks.BSP Governor Eli Remolona Jr.
Hawkish' Sentiment Could Boost Share Prices
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