PSEi surges to 6,600 level on buying momentum
THE PHILIPPINES’ main stock benchmark on Wednesday soared to 6,600 level for the first time since January 2025, buoyed by a strong peso and positive corporate results that boosted buying activity.
The Philippine Stock Exchange index (PSEi) jumped by 1.09% or 71.89 points to close at 6,619.87, while the broader all shares index went up by 0.71% or 25.91 points to end at 3,640.38.
This was the PSEi’s best finish in over 13 months or since it closed at 6,625.17 on Jan. 6, 2025.
“The local market rallied further as investors continue to anticipate fourth-quarter and full-year 2025 corporate results with optimism,” Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.
“The PSEi ended higher, reaching the 6,600 level as buying pressure remained intact across the board. Investor confidence stayed elevated, with ongoing earnings releases driving gains in select stocks and attracting renewed participation from investors,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
“Meanwhile, the strengthening peso against the US dollar further bolstered overall market sentiment and supported sustained optimism in equities.”
On Wednesday, the peso rose by 24.50 centavos to close at a new five-month high of P57.51 versus the greenback as fresh tariff uncertainty weighed on the dollar.
“Investors were also relieved as the US implemented a global tariff of 10%, lower than President Donald Trump’s prior announcement of 15%,” Mr. Tantiangco added.
The Trump administration is working to increase the rate on Mr. Trump’s new, temporary global tariff to 15% from the 10% rate published by the US Customs and Border Protection (CBP) agency, a White House official said on Tuesday, Reuters reported.
The official said Mr. Trump has had “no change of heart” on his desire for a 15% tariff rate, which he had announced on Saturday after issuing a formal order on Friday for a 10% rate on the new duties that will last 150 days. The temporary tariff imposed under Section 122 of the Trade Act of 1974 is meant to replace Mr. Trump’s global emergency tariffs struck down by the US Supreme Court on Friday.
Four of the six sectoral indices closed higher on Wednesday. Services surged by 4.24% or 117.08 points to 2,874.21; mining and oil increased by 1.68% or 325.65 points to 19,694.44; industrials went up by 0.72% or 67.91 points to 9,467.51; and financials climbed by 0.2% or 4.47 points to 2,186.91.
Meanwhile, property declined by 0.63% or 14.07 points to 2,188.76, and holding firms dropped by 0.09% or 4.85 points to 5,151.01.
Advancers outnumbered decliners, 116 to 91, while 59 names closed unchanged.
Value turnover rose to P9.998 billion on Wednesday with 1.32 billion shares traded from P8.07 billion with 2.07 billion issues that changed hands on Tuesday.
Net foreign buying increased to P1.85 billion from P406.68 million in the previous session. — Alexandria Grace C. Magno
