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CRUCIAL economic indicators and corporate outcomes might assist Philippine equities in maintaining their momentum this month after international trade anxieties unsettled markets in April, even dragging the local stock index to a multi-year low.<\/p>\n
The benchmark Philippine Stock Exchange index (PSEi) concluded April positively as it surged by 1.64% or 102.80 points to finish at 6,354.99 on Tuesday.<\/p>\n
On a month-to-month basis, the PSEi also increased by 2.82% or 174.27 points from its 6,180.72 close on March 31.<\/p>\n
The market was not operational on Thursday due to Labor Day.<\/p>\n
\u201cThe market succeeded in posting a gain in April despite the volatility caused by US President Donald J. Trump\u2019s tariffs,\u201d AP Securities, Inc. Research Head Alfred Benjamin R. Garcia communicated via Viber.<\/p>\n
\u201cWhile we anticipate the same issue to influence the market this upcoming month, investors will likely take into account local elements such as first-quarter earnings and gross domestic product (GDP) figures,\u201d Mr. Garcia stated. \u201cMay is traditionally a weaker month, so that should also be factored in. Nevertheless, our outlook for the remainder of the year remains moderately optimistic, supported by what we perceive as an undeserved undervaluation of Philippine stocks.\u201d<\/span><\/p>\n On April 2, which Mr. Trump labeled as \u201cLiberation Day\u201d for the US, Washington declared it would impose \u201creciprocal\u201d tariffs on most of its key trading partners, including the Philippines.<\/span><\/p>\n The PSEi on April 7 dropped to 5,822.85, its lowest closing in over two-and-a-half years or since it ended at 5,783.15 on Oct. 3, 2022, as Mr. Trump reaffirmed his directive, igniting trade war anxieties.<\/span><\/p>\n However, Mr. Trump postponed the increased tariffs for 90 days beginning April 9, instead instituting a blanket 10% tariff until July. Nations are currently negotiating trade agreements with the US.<\/p>\n DragonFi Securities, Inc. Equity Research Analyst Jarrod Leighton M. Tin noted in a Viber message that alleviating trade worries allowed the PSEi to recover the losses experienced early last month.<\/p>\n