The Philippine stock market opened the week in the negative territory, as the Bangko Sentral ng Pilipinas reported a decline in net inflows of foreign direct investments .
“We are shifting our overweight allocation to equities as we anticipate more upside potential despite expected interest rate cuts by the Banko Sentral ng Pilipinas and the US Federal Reserve,” Wealth Insights said. Meanwhile, most Asian markets fell Monday after China’s keenly awaited plans to support the world’s number two economy fell short of expectations, while traders were also keeping tabs on Washington as Donald Trump puts his cabinet together after last week’s election win.
Authorities in late September began unveiling a raft of policies aimed at reigniting the economy, which has failed to fire since the lifting of tough Covid-fighting rules at the end of 2022.