THE Philippine Stock Exchange index (PSEi) could continue climbing this week, an analyst said, building on gains that saw it breach the 6,210 resistance level.
The benchmark index closed at 6,348.14 last Friday, gaining 3.47 percent week on week and up 4.88 percent since the start of the year.
Except for a pullback last Tuesday, the PSEi has posted gains since trading resumed on Jan. 2 after the New Year holidays.
RCBC chief economist Michael Ricafort said the index could test the intraday 6,591 mark, last recorded in May 2025, as positive sentiment is being supported by both domestic and global developments.
Pullbacks are likely to find support between 6,075 and 6,190, he added, with a major floor at 5,890–5,980 helping preserve an upward trend that began from the Nov. 14 intraday low of 5,584.
Ricafort also noted that the Bangko Sentral ng Pilipinas could implement another 0.25 percent rate cut in February if domestic growth remains subdued, while potential US Federal Reserve cuts this year are expected to maintain global liquidity and support risk assets.
Monetary policy signals, combined with steady inflation, were said to be helping stabilize the peso and bolster confidence in local equities.
Global market cues also remain supportive, with the US stock market hitting record highs amid mixed jobs and inflation data, and investors are also expected to await October foreign direct investment and November overseas Filipino remittance data due this week.
Corporate developments, such as Jollibee’s plan to spin off and list its international business in the US, were said to have also provided additional selective support to the market.
Ricafort emphasized that while momentum remained favorable, investors should remain alert to potential volatility from political developments, global uncertainties, or sudden shifts in liquidity.