THE stock market could see some upward movements this week amid expectations of another interest rate cut by the Bangko Sentral ng Pilipinas .The benchmark Philippine Stock Exchange index snapped a three-day decline last Friday, closing at 6,729.14 and ending 1.7 percent up from a week earlier.Philstocks Financial Inc. research manager Japhet Tantiangco said the PSEi was able to close in the '6,700 – 6,800 support range' and could test it this week.
Online stock brokerage firm 2TradeAsia.com said that the November inflation uptick — 2.5 percent from 2.3 percent in October — had helped lift the PSEi.It added that 'a December Fed rate cut on the 18th is all but priced in by market globally — the surveyed probability for the US benchmark rate to be in the 4.25-4.5 percent range is over 70 percent.
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