The Philippine Stock Exchange index surged by 1.95% to close at 5,912.69, marking its best single-day performance since early April. The rally was driven by sustained bargain hunting, optimism over a rollback in fuel prices, and the government's plan for a strategic petroleum reserve program. All sector indices posted gains, with services leading the surge. The peso's appreciation against the US dollar further boosted market sentiment.
PHILIPPINE STOCKS rallied to the 5,900 level on sustained buying momentum as investors continued to pick up bargains and as market sentiment improved. The Philippine Stock Exchange index jumped by 1.95% or 113.37 points to close at 5,912.69, while the broader all shares index went up by 1.41% or 46.32 points to end at 3,331.88.
This was the PSEi’s best single-day performance since April 8, when it rose by 2.21% or 132.04 points to finish at 6,089.91.
“The local market extended its rally as investors continued their bargain hunting. The market also cheered the significant rollback in fuel prices today as it would help in the country’s inflation scenario.
Finally, the government’s move to create a strategic petroleum reserve program helped in today’s session,” Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message. The rollback in fuel prices this week came after five consecutive weeks of hike in gasoline prices and a second week for diesel. Energy Secretary Sharon S. Garin also said that the government is working on the establishment of a strategic petroleum reserve program, which includes building new stockpiling facilities.
The Philippines is vulnerable to the Middle East conflict as it depends heavily on the region for its oil imports, raising concerns over energy security and higher fuel costs.
“The Philippine market ended in the green as investors shifted back into buying mode, supported by continued bargain hunting that helped reclaim the 5,900 level. The peso’s appreciation against the US dollar further lifted sentiment and underpinned selective inflows into equities,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
On Tuesday, the peso rose by 7.10 centavos to close at P61.675 against the greenback from its P61.746 finish on Monday, Bankers Association of the Philippines data showed. All sector indices closed in the green on Tuesday.
Services surged by 4.84% or 140.11 points to 3,031.38; mining and oil increased by 2.77% or 491.30 points to 18,192.61; industrials went up by 1.09% or 90.98 points to 8,428.07; holding firms climbed by 0.69% or 30.10 points to 4,374.88; property rose by 0.49% or 9.21 points to 1,870.88; and financials advanced by 0.16% or 2.99 points to 1,791.91.
“International Container Terminal Services, Inc. was the day’s index leader, jumping 6.41% to P830. Century Pacific Food, Inc. was the main index laggard, falling 4.76% to P25,” Mr. Tantiangco said. Value turnover dropped to P6.79 billion on Tuesday with 638.23 million shares traded from the P8.50 billion with 564.54 million issues that changed hands on Monday. Net foreign buying was at P628.73 million on Tuesday, a turnaround from the P1.13 billion in net selling on Monday. —
Please follow us on Google to support us Philippine Stock Market Psei Bargain Hunting Fuel Price Rollback Strategic Petroleum Reserve
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Converge boosts network expansion in Philippine provincesCONVERGE ICT Solutions, Inc. is accelerating network expansion this year with plans to add almost one million ports nationwide as it pushes deeper into provincial markets and strengthens infrastructure capacity for long-term growth. “This 2026, Converge is positioned for a transformative year,” Converge Chief Executive Officer Dennis Anthony H.
Read more »
RoW bottlenecks seen weighing on Philippine infrastructure momentumRIGHT-OF-WAY (RoW) challenges continue to delay major transport projects and push back completion timelines, the Asian Development Bank (ADB) said, highlighting the risk to the Philippines’ infrastructure investment momentum.
Read more »
Philippine Supreme Court Denies TRO, ICC Arrest Warrant for Senator Bato dela Rosa StandsThe Philippine Supreme Court has denied Senator Ronald 'Bato' dela Rosa's petition for a temporary restraining order against an International Criminal Court arrest warrant. Dela Rosa, a former police chief and key implementer of the Philippines' drug war, is now a fugitive facing allegations of crimes against humanity. The high court ruled 9-5-1 against him, emphasizing it will not be a 'doormat' for those with 'blood on their hands.'
Read more »
China patrols waters east of Taiwan in response to Japan, Philippine maritime border talksBEIJING — China’s Coast Guard on Monday said it had conducted “law enforcement” patrols in Taiwan’s eastern waters in response to Japan and the Philippines’ plans to launch maritime border delimitation talks, which overlap with areas China claims.
Read more »