What is top of mind for investors this week is the US Federal Reserve’s Jackson Hole Symposium, where markets hope to glean clues on the central bank’s policy outlook, Philstocks Financial Inc. said on Tuesday.
The Jackson Hole Economic Policy Symposium brings together central bankers, policymakers, economists, and academics from across the globe to discuss and share insights on important economic issues and long-term policy challenges, the Federal Reserve Bank of Kansas City said on its website.
Ahead of that event, the benchmark PSEi on Tuesday fell 11.21 points, or 0.18 percent, to close at 6,277.67. The broader All Shares dropped 3.21 points, or 0.09 percent, to 3,737.90.
Losers edged gainers, 101 to 86, with 63 issues unchanged. Trading value reached P7.58 billion on 79,855 transactions covering 1.02 billion shares. Foreign funds were net sellers of P1.22 billion.
“The market remains in consolidation with investors still looking for a catalyst,” Seth Pangan, trader at Diversified Securities, said.
Regina Capital managing director Luis Limlingan added that some players were locking in profits while others were “likely adopting a more cautious stance while waiting for the next opportunity.”
At an investors’ outlook briefing, Unicapital Securities projected the PSEi to end 2025 at 7,100, likely fluctuating between 6,500 and 7,400.
“Right now, the PSEi is trading at 9.7 times price-to-earnings, the lowest among regional and global peers, and significantly below the 10-year average of almost 16 times,” Wendy Estacio-Cruz, Unicapital’s head of research, said.
