INVESTORS are expected to take cues from President Rodrigo Duterte’s second state of the nation address (SONA) today (Monday) on the direction of the economy for trading leads for the day.
“All eyes will be on President Duterte’s SONA … ahead of the government’s economic blueprint, aside from his administration’s timeline in lifting martial law in Mindanao,” online brokerage firm 2TradeAsia said in a note over the weekend.
“Details of Duterte’s Tax Reform for Acceleration and Inclusion (TRAIN) as well as ‘Build, Build, Build’ program will be among key topics that will be looked forward to, as these are catalysts and are conjoined with companies’ capital expenditure rollout plans,” it said.
“On the political side, any hint on the possible early lifting of Martial Law in Mindanao could influence sentiment positively, as this could induce the influx of large-ticket and long-term foreign investments in the region,” the stock brokerage added.
The initial public offering of Chelsea Logistics Holdings Corp. is also expected to influence the market in the coming days.
The company is offering more than 546 million common shares priced at P10.68 per share on July 24 to 31. The shares will be listed on the Philippine Stock Exchange on August 8.
Corporate results for the second quarter are also expected to influence the market, according to Regina Capital Development Corp.