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Richmond Mercurio - The Philippine Star
February 9, 2026 | 12:00am
The benchmark Philippine Stock Exchange index closed in positive territory last Friday at 6,390.91, up by 0.98 percent week-on-week.
Pixabay / File
MANILA, Philippines — Market caution is expected to persist this week while investors continue to wait for fresh catalysts that could support a stronger rally.
The benchmark Philippine Stock Exchange index closed in positive territory last Friday at 6,390.91, up by 0.98 percent week-on-week.
Despite closing in the red, the broader All Shares index was also able to post a slight week-on-week gain of 0.03 percent to 3,584.43.
“The local market bounced back last week on satisfactory inflation figures and hopes of economic growth recovery. Trading has weakened, however, implying that many investors are turning more cautious,” Philstocks Financial research manager Japhet Tantiangco said.
He said the local market remains attractive from a marketability standpoint.
As of Friday’s closing, he said the market’s price-to-earnings ratio stood at 10.7x, below its historical average of 14.4x and the regional average of 18.9x.
This week, Tantiangco said investors could maintain their cautious stance while waiting for fresh leads.
He said focus is now expected to be directed toward fourth quarter and full year 2025 corporate results.
“Investors may also take cues from our upcoming foreign direct investments data. Investors are also expected to look at the local currency’s movement. A further appreciation of the peso against the US dollar may give the local market a boost,” Tantiangco said.
2TradeAsia.com, the online arm of F. Yap Securities Inc., sees immediate support at 6,300, while resistance is seen at 6,500.
“Themes of caution and rotation define the outlook, urging selective positioning in defensives and undervalued cyclicals for near-term resilience. The recent surge in safe havens is not to be ignored, but it is just as important to not confuse a consolidation phase for a bear market,” it said.
