The Philippine Stock Exchange index (PSEi) opened at 6,414.06 on Monday, with investors closely watching whether the index can sustain its breach above the key 6,400 resistance level.

Market sentiment may find support from the continued decline in global oil prices and the recent appreciation of the peso against the US dollar. Analysts note that these factors could provide a favorable backdrop for today’s trading session, although new catalysts will be crucial in driving momentum.

Last week, the local bourse posted gains as geopolitical tensions in the Middle East eased, following a ceasefire agreement between Israel and Iran. The move helped calm global markets, leading to a pullback in oil prices and a recovery in the peso – both of which buoyed investor confidence.