New catalysts needed to boost stock market

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FRESH catalysts will be needed to bring the Philippine Stock Exchange index (PSEi) back into the 7,400 level or even higher, analysts said, after the benchmark ended 1.4 percent down week-on-week last Friday.

FRESH catalysts will be needed to bring the Philippine Stock Exchange index back into the 7,400 level or even higher, analysts said, after the benchmark ended 1.4 percent down week-on-week last Friday.The PSEi, which earlier this month hit an over four-year high of 7,554.86, closed out last week at 7,314.24 — recovering from a low of 7,283.79 on Thursday but still lower than the previous Friday's 7,415.73.Philstocks Financial Inc.

'We now look ahead to the FOMC meeting on October 29-30, followed by fresh catalysts, such as the release of Philippine October inflation data and the US presidential elections on November 5.'Online brokerage firm 2TradeAsia.com, meanwhile, said the impact of severe tropical storm Kristine was partly to blame for the PSEi's drop last week.'Initial estimates put the affected to be at around 2.

 

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