Philstar
Stocks look to sustain positive momentum
The Philippine Stock Exchange Composite Index (PSEi) is currently on a four-day winning streak, closing at 6,264.49 last Friday, showing a 2.5 percent week-on-week increase.
Investors anticipate further rate cuts from the Bangko Sentral ng Pilipinas, influenced by the US Federal Reserve's expected policy easing.
The local market's gains are tracking positive momentum from overseas peers, including record highs in US indexes.
However, gains may be limited as investor sentiment turns cautious due to five consecutive weeks of rising oil prices, which could reignite inflation concerns.
Despite past underperformance attributed to factors like corruption and decelerating growth, the PSEi shows potential for recovery due to low valuations and robust domestic consumption.
Corporate earnings are projected to grow, and major conglomerates are trading at a significant discount to their net asset values.
Government initiatives to reduce transaction taxes are also being considered to enhance stock market liquidity.
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