Philippines stocks could rise Going further this week as the market remains “cautiously optimistic” Before the Trump administration plans to pause in 90 days, a long-term agreement between Iran and Israel, as well as the major agreements for development, requires “reciprocity” tariffs on its major trading partners.
The benchmark Philippine Stock Exchange Index (PSEI) resumed the 6,400 rating on Friday, jumping 1.22% or 77.62 points to end with a score of 6,408.27. The wide range of all stock indexes also rose 0.84% or 31.61 points to 3,792.06.
In the week, PSEI rose 1.08% or 68.5 points from the end of 6,339.77 on June 20.
“Global markets are fighting with moderate growth prospects and volatile oil prices, which remains a cautious ceasefire between the Federal Reserve, Israel and Iran,” said online broker 2tradeasia.com.
Philstocks Financial, Inc. “However, as tensions in the Middle East ease, as tensions in the Middle East eased, as tensions in the Middle East eased. However, the deals remain thin, reflecting increasing market confidence, and many are still under uncertainty, and many are still on the market.”
According to Reuters, the 12-day Israel-Iran conflict took effect early last week. Israel launched an air battle on June 13, attacking Iranian nuclear facilities and killing the worst blow to the Islamic Republic since the 1980s, killing the highest military commander and civilians.
Iran has retaliated against missiles on Israeli military sites, infrastructure and cities. The United States launched a strike on Iranian nuclear facilities on June 22.
Mr Tantiangco said the mood this week may be “cautiously optimistic”.
“Although tensions in the Middle East have faded, relations between Israel and Iran remain uncertain. This is expected to put investors on a cautious stand. On a positive note, a reduction in global oil prices and a rebound in local currencies may continue to support local Bruce.”
“Investors are also expected to deal with uncertainty about the July tariff deadline for U.S. President Donald J. Trump. Hopefully, extending the deadline above can bring emotions.”
Instant support for PSEI is 6,105-6,200, while immediate resistance is 6,500, and sentiment is expected to increase if situations in the Middle East continue to improve.
2tradeasia.com puts the immediate support of PSEI at 6,300 with a resistance of 6,500-6,550.
“Although direct conflicts in the Middle East have slightly reduced, global markets are still navigating an ongoing geopolitical trend; however, this fragile stability does not eliminate the potential vulnerability of global supply chains,” it said. “Investors must strive to deal with geopolitical reality and the unpredictable but influential trade weaponization monetary policy environment.” – RMD Ochave and Reuters
