Rate cut seen boosting stock market sentiment

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Rate cut seen boosting stock market sentiment
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THE stock market could receive a boost from a Bangko Sentral ng Pilipinas (BSP) policy meeting this Thursday amid lingering fears of a recession in the United States, analysts said.

THE stock market could receive a boost from a Bangko Sentral ng Pilipinas policy meeting this Thursday amid lingering fears of a recession in the United States, analysts said.Worries over the state of the US economy saw the Philippine Stock Exchange index plunge to the 6,400 level last Monday, but it still managed to end the week up 0.6 percent at 6,647.80.Michael Ricafort, chief economist at Rizal Commercial Banking Corp.

The reaction to the Thursday unemployment data was in marked contrast to separate US employment numbers a week ago that triggered massive selling across markets at the start of the week.Since then, equities have seen big fluctuations as traders seek to get hold of the economic outlook for the United States and elsewhere.Online brokerage firm 2TradeAsia.

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