SHARES OUTLOOK FOR THE WEEK

Key data to guide trade as Q4 starts

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KEY economic data due out soon could dictate price movements as the stock market enters the fourth quarter.

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“It looks like we’d be going … sideways … because there’s nothing positive this week,” Summit Securities, Inc. President Harry Liu said.

News that US President Donald Trump will be visiting the country in November could provide a small boost but “other than that, the rest has already been discounted before Friday,” Liu said.

Regina Capital Development Corp. President Marita Limlingan said selling pressures had likely subsided.

“Locally, we will be tracking key data such as the inflation report for September and the Purchasing Managers’ Index as we begin the week officially in the fourth quarter,” she said.

Online brokerage firm 2TradeAsia, meanwhile, said tussles between the bears and the bulls could spell volatility for share prices.

“The tug-of-war between optimists and pessimists has begun, with varying calls on whether the equities market still has room for upside.

“Bears argue on heady valuation and that geopolitical tensions could readily tilt the case in their favor. Meanwhile, optimists (or ‘ber’ players) see more room to partake in the ‘ber’-month spending, believing borrowing costs are still benign and could readily provide the boost in share prices…,” 2TradeAsia said.

“Either way, this sentiment variation spells volatility in equities, which could provide capital gains opportunities for those who do their homework diligently,” it added.

The benchmark Philippine Stock Exchange index inched up 0.19 percent or 15.39 points to finish at 8,171,43 on Friday. The broader All Shares rose 0.48 percent or 23.10 points to close at 4,841.35.

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