Investors looking for strong leads


Reactions to August inflation data due tomorrow could drive the stock market but analysts said investors were also on the lookout for other leads.

“With the Philippine Stock Exchange index (PSEi) still locked within 7,900-8,040, another tight session might prevail … unless strong leads emerge,” online brokerage firm 2TradeAsia said.

“The limelight might be on select second- & third-tiers with solid stories to unfold, especially those that trail index-related bets,” it added.

“A month to go before the third quarter earnings review, participants might give weight on industry news, specifically those that are seen to create positive and/or negative ripples in the economy.”

Regina Capital Development Corp. said the release of gross international reserves data on Thursday could also influence investor appetite.

“In the US, investors will be guided by jobless claims, crude inventories and trade balance among others,” it added.

The benchmark PSEi was basically flat on Thursday, gaining just 0.02 percent or 1.84 points higher to finish at 7,958.57.

The broader All Shares, likewise, rose marginally by 0.03 percent or 1.27 points to settle at 4,723.27.

Markets were closed on Friday for the Eid al-Adha holiday.


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