Continued stock market gains expected this week

THE stock market could climb further this week as investors digest positive cues from both the US Federal Reserve and the Bangko Sentral ng Pilipinas regarding interest rate cuts.The benchmark Philippine Stock Exchange index, which closed at 6,648.23 points last Friday, climbed 2.

If it continues, then it is also expected to help the local bourse,' he said.Online brokerage firm 2TradeAsia.com said that markets were pricing in 90-100 percent likelihood for a September Fed rate cut.'Fed Chair 's comments that inflation need not hit the 2 percent interest rate cuts likewise boosted optimism, pushing yields to expect at least two interest cuts for 2024, starting in September,' the firm said.

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