PSE set for upward trend as investors await BSP and US Fed decisions

The Philippine Stock Exchange (PSE) returned from a one-day break and is expected to move towards an upward trend this week as investors anticipate fresh market leads.

On Friday, the benchmark PSEi closed at 6,281.58, marking a slight decline of 0.54 percent for the week.

Unicapital Securities Inc. equity research analyst Peter Garnace expects the local bourse to trade sideways with a slight upward bias as investors await the Bangko Sentral ng Pilipinas (BSP) policy rate cut and US Fed's preferred inflation gauge data releases.

Market analysts suggest that Jerome Powell’s Jackson Hole speech will influence global risk appetite, potentially inspiring a September policy rate cut by the Federal Reserve.

Trading will resume tomorrow after today's closure for National Heroes Day, with hopes of bargain hunting and positive catalysts boosting buying activity.