Profit-taking possible but PSEi could go higher

By Earl John Alfaro

Sep 30, 2024 12:18 am

INVESTORS could choose to take profits this week with the stock market seen to be overbought, analysts said, but upcoming data may help sustain the Philippine Stock Exchange index's (PSEi) bull run.

The benchmark index last week hit over two-and-a-half year highs, surging to the 7,400 level amid optimism over interest rate cuts and after the Bangko Sentral ng Pilipinas (BSP) slashed bank reserve requirements.

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