9 out of 16 analysts expect a 25-basis-point BSP rate cut, which could boost Philippine stocks.
Philippines stocks may remain stable with a possible Bangko Sentral ng Pilipinas (BSP) rate cut expected to boost sentiment. A 25-basis-point rate cut is anticipated by 9 out of 16 analysts surveyed. The BSP's policy rate meeting on Thursday will be closely watched by investors. If the rate is cut, the market's upward momentum could be sustained; otherwise, it might decline. Investors will also track Wall Street developments, foreign direct investment, OFW remittance data, and second-quarter corporate results. Support is seen at 6,400-6,500 and resistance at 6,700-6,800 levels.
August 11, 2024
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