Philippine shares expected to be stable as investors await Marcos' SONA

Philippine shares are expected to move sideways this week, as investors await President Ferdinand R. Marcos Jr.'s fourth State of the Nation Address (SONA) on Monday.

On Friday, the Philippine Stock Exchange index (PSEi) closed down by 0.48% at 6,413.18 points, while the broader all shares index fell by 0.3%. However, week-on-week, the PSEi increased by 1.74%

Despite recent typhoons and global economic anxieties, the local market rallied last week with bargain hunters taking advantage of opportunities.

Research Manager Japhet Louis O. Tantiangco from Philstocks Financial Inc. expects this week's market to look for fresh leads, focusing on Mr. Marcos' SONA and corporate reports.

Tantiangco noted that robust second quarter corporate results could lift the local market, while 2TradeAsia.com advised investors to prioritize high-liquidity, domestically focused valued stocks to navigate near-term risks.