Local shares are expected to trade cautiously next week as investors monitor global interest rate signals and weak trading volume, online brokerage 2TradeAsia said over the weekend.

The Philippine Stock Exchange index (PSEi) rose 51 points to 6,089 this week, up 0.86 percent, but activity stayed quiet as investors remained on the sidelines. Average turnover slipped to P6.64 billion, down 20.5 percent, while net foreign selling eased to P169 million. Decliners outnumbered gainers, 103 to 93.

2TradeAsia said sentiment will likely hinge on expectations ahead of the US Federal Reserve’s 28 to 29 October meeting, where a 25-basis-point rate cut is widely expected. However, it noted that US officials still appear cautious.

“Hawkish messaging could wrap up in early 2025 as revised September dot plots now push for a sharp 50–75bps in 2024,” it said.

The brokerage added that easing inflation may offer short-term support but warned that slowing global demand could limit gains. “Seasoned players will anchor on earnings for 2026 visibility, as cash flow becomes relevant in a rate-flux environment,” 2TradeAsia said.

It placed immediate PSEi support at 6,000 and resistance at 6,200. Top performers last week were San Miguel Corp., BDO Unibank, and ICTSI, while PLDT, Converge ICT and Ayala Land Inc. were among the laggards.