PSEi may trade lower on lack of fresh leads

The stock market could trade lower this week with investors likely choosing to stay on the safe side ahead of the new year.

“We expected the market to test the support at 8,200 [last week] … due to the negative momentum that we came into the week. However, we could not bounce off that support level and it continued lower to close at 8,144,” Eagle Equities, Inc. research head Chris Mangun said.