Philippine stocks to move sideways; investors watch US tariffs, politics, reports

Philippine stocks are expected to move sideways this week as investors await new developments amid uncertainty over US tariff plans.

On Friday, the Philippine Stock Exchange index (PSEi) closed at 6,294.11, up 0.83%, while the broader all shares index increased by 0.54%

Philstocks Financial's Senior Research Analyst Japhet Louis O. Tantiangco noted that the market is testing its 50-day exponential moving average and remains undervalued.

Rizal Commercial Banking Corp.'s Chief Economist Michael L. Ricafort sees support at 6,000 and resistance at 6,300-6,530 for the PSEi, while 2TradeAsia.com forecasts immediate support at 6,000 and resistance at 6,400.

Investors are advised to monitor political headlines and corporate reports as these factors could impact market performance.