Stocks weighed down by economic pressures

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

While some bargain hunting may be seen this week at the stock market, sentiment will continue to be weighed down by slower economic growth, inflationary pressures, and the start of the Chinese ghost festival.

“With our second quarter Real Gross Domestic Product growth coming in below expectations, cracks in the confidence towards the economy could already be present which in turn would make the building of market momentum even harder,” said Philstocks Financial Research Manager Japhet Tantiangco.

He also pointed out that, “this week, investors are also expected to look forward to the Bangko Sentral ng Pilipinas’ policy meeting to see how their reaction and policy outlook would be following the slowdown in our GDP growth in the second quarter. Hints of dovish policies from the BSP may give sentiment a boost.”

2Tradeasia.com also pointed out that, “the Chinese ghost festival will start on the 16th, which could further thin out trading volume for the next few weeks. Expect the market to hyper-fixate on the BSP's meeting next week as funds look for stronger direction amid the divergence between economic deceleration versus neutral-to-positive corporate earnings and valuations.”

It also has a BUY rating on SM Investments given their robust earnings growth despite global headwinds as there is strong momentum in consumer spending which will benefit SM Retail and the malls of SM Prime.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines