Bargain hunting may boost stock market

BARGAIN hunting could help boost the stock market this week, analysts said, but the trimmed rate cut projections by the US Federal Reserve and the Bangko Sentral ng Pilipinas could potentially dampen investor sentiment.The benchmark Philippine Stock Exchange last week hit an over five-month low on Dec. 19, closing at 6,395.60, but rebounded a day after, ending the week at 6,406.38, down by 3.2 percent week-on-week.This was the lowest close of the stock index since it closed at 6,358.

The peso hit a record low of P59 against the dollar last Dec. 19.For its part, online brokerage firm 2TradeAsia.com said that hawkish comments from the US and Philippine central banks spooked local equities and led to the stock index falling below 6,500.'The Fed and the BSP played out their predicted moves this December round of policy meetings: both 25-bps sized cuts to cap the year,' it said.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PH stocks rebound on bargain-hunting as BSP hints of another rate cut in 2025Philippine stocks ended the week in the green, after a seven-day losing streak on bargain hunting. The benchmark Philippine Stock Exchange index (PSEi)
Source: MlaStandard - 🏆 20. / 55 Read more »

Bargain-hunting likely to lift PH stocks this weekPhilippine stocks are expected to rebound this week after the last week’s decline as investors await the latest inflation report. The Philippine
Source: MlaStandard - 🏆 20. / 55 Read more »

Tariff threat to keep weighing on marketTHE threat of US tariffs will likely continue affecting the stock market, analysts said, but bargain hunting and economic data due this week may provide some support.
Source: TheManilaTimes - 🏆 2. / 92 Read more »