Profit taking to provide ‘technical breather’

The stock market appears set for a “technical breather,” with profit-taking balancing out gains made last week, analysts said.

“This week, we expect some profit taking as the market has been up for most of the [previous] week. The PSEi should trade between 7,000 and 7,250 with main catalysts being the local export and OFW [overseas Filipino workers] remittances figures, and further developments in the US and China,” BPI Asset Management said.