The Philippine Stock Exchange continued to see lackluster trading Friday amid a lack of market catalysts. The bellwether Philippine Stock Exchange Index
The Philippine Stock Exchange continued to see lackluster trading Friday amid a lack of market catalysts.
Japhet Tantiangco, research head at Philstocks Financial Inc., said hopes for a rate cut by the Bangko Sentral ng Pilipinas could lift the local bourse from its sideways movement. Markets in Asia and Europe diverged Friday ahead of a pivotal speech by the US central bank chief, expected to shed light on possible interest rate cuts in the world’s top economy.
Powell has come under intense public pressure this year from President Donald Trump to lower rates — an unusual political intervention at the independent central bank. After a shaky few days on Wall Street, Asia “should act as a safe harbor while the Fed’s credibility is under the spotlight”, said Chris Weston, head of research at Pepperstone, in a note.
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