By Revin Mikhael D. Ochave, <\/b>Reporter<\/i><\/p>\n
PHILIPPINE EQUITIES are anticipated to drop this week as market mood is impacted by a sluggish peso.<\/span><\/p>\n \u201cIf the peso continues to underperform against the dollar, particularly if it surpasses the P59 threshold, it may impact the local stock market,\u201d Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financial, Inc., stated in a Viber message.<\/span><\/p>\n He further noted that traders would continue to act with caution as they await new market drivers.<\/p>\n The peso concluded at P58.87 versus the dollar on Friday, slightly improved after it ended at a more than two-year nadir of P59 on Thursday.<\/p>\n \u201cThe domestic market remains at appealing levels. Therefore, we might still witness bargain-hunting in the upcoming week\u2019s trading,\u201d Mr. Tantiangco remarked.<\/span><\/p>\n On Friday, the Philippine Stock Exchange index (PSEi) decreased by 1.2% or 82.88 points to 6,780.13. The broader all-share index also fell by 0.55% or 21.18 points to 3,788.21.<\/p>\n On a week-over-week basis, the PSEi rose by 1.55% or 103.48 points from its 6,676.65 close on Nov. 15.<\/p>\n \u201cThe local benchmark index fluctuated within a tight trading range below 7,000, affected by growth anxieties and potentially slower interest rate cuts in 2025, yet still managed to finish the week positively,\u201d online brokerage firm 2TradeAsia.com<\/i> noted in a market commentary.<\/span><\/p>\n Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., indicated that the market\u2019s crucial support over the last five months stands at 6,500 to 6,700, with resistance at 7,000.<\/p>\n \u201cThe PSEi still advanced after experiencing four consecutive weeks of decline, as markets began to adjust to a Donald Trump presidency,\u201d he added.<\/p>\n 2TradeAsia.com<\/i> set the market\u2019s support at 6,500 and resistance at 7,000.<\/p>\n \u201cRecent \u2018tectonic risks\u2019 have complicated decision-making processes that bolster confidence in 2025 models,\u201d it stated. \u201cThis does not render the market impossible to trade; however, securities with excess returns are slightly more challenging to uncover.\u201d<\/p>\n \u201cMaintain selectiveness in trades, recognizing that despite a steady earnings trend, some stocks are presently trading at significantly discounted valuations due to the downturn,\u201d it added.<\/p>\n Mr. Tantiangco identified the market\u2019s primary support at 6,700 to 6,800 and resistance at 7,000.<\/p>\n \u201cFrom a charting perspective, the market may continue to evaluate its 200-day exponential moving average,\u201d he noted. \u201cEstablishing a position above this line would be interpreted as an indication of upward momentum developing for the market.\u201d<\/p>\n