GLOBAL and domestic headwinds are likely to cap the potential of the Philippine equities market at 7,500 points on the benchmark PSEi, according to “The Market Call,” a joint research report by First Metro Investment Corp. (FMIC) and University of Asia & the Pacific (UA&P) on capital markets. “Despite the bright macroeconomic outlook, at least in the next 12 months, our 2017 market outlook is subject to a large degree of uncertainty. We see two scenarios playing out this year,” Arjonillo noted in The Market Call, co-produced by FMIC and the UA&P. We prefer to reduce exposure as the market strengthens at levels above our 2017 target, and wait for better entry points,” the FMIC president said. The scenario may take a different trajectory if the perceived market headwinds do not materialize, and the large degree of uncertainty clouding the outlook dissipates or lessens, Arjonillo noted.

Source: Manila Times January 23, 2017 15:08 UTC