The stock market could see muted trading this week with analysts noting the lack of catalysts that could trigger a renewed push to 9,000 territory. “We saw the market stabilize above 8,500 which is our major support. I am convinced that the market will continue to trade sideways as we build up trading volume and wait out the continued foreign selling,” Eagle Equities, Inc. research head Christopher John Mangun said. “There are several trading gaps to be filled on the way up to retest the 9,000 level which I think we will see in a few weeks,” he added. In a separate comment, brokerage firm 2TradeAsia said the timing of the next US Federal Reserve rate hike could continue to worry investors, especially given higher January inflation and a decline in retail sales.

Source: Manila Times February 18, 2018 16:18 UTC