Bargain-hunting could help buoy stock market

THE stock market could see some lift from bargain-hunting this week, analysts said, but further declines cannot be ruled out given the peso's continued weakness and bearish investor sentiment.The benchmark Philippine Stock Exchange index snapped a seven-day selloff on Friday but still ended down 4.3 percent week on week at 6,676.65.Philstocks Financial Inc.

'Markets have been strung tight since late October, exacerbated by the US elections and, most recently, comments from ,' it added.'While the US central bank proceeded with its 25 cut for November, inflation approaching its target range plus a strong jobs market were cited as reasons not to rush with the rate cuts,' it added.'Broad-based rallies are not seen in the very short run due to the recent barrage of global uncertainties, on top of real erosion in present fundamentals.

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