Generally peaceful elections may spur PSEi

By Revin Mikhael D. Ochave, Reporter

MARKETS are expected to cheer generally peaceful midterm elections on May 12, and with Philippine President Ferdinand R. Marcos, Jr’s economic policies likely to get a boost from allies in the new Congress, analysts said.

“The Philippine Stock Exchange Index (PSEi) will attempt to approach and break the tough 6,500 resistance if elections prove peaceful,” Cristina S. Ulang, head of research at First Metro Investment Corp., said in a Viber message.