Share prices bounced back on Tuesday, regaining some lost ground after Israel and Iran agreed to a truce—easing geopolitical tensions that had rattled global markets in recent trading.
The benchmark PSEi rose 1.20 percent, or 74.47 points, to close at 6,292.75, in line with gains across the region. The broader All Shares likewise advanced, gaining 0.88 percent, or 32.64 points, to 3,739.20.
Market breadth was positive, with 122 gainers outpacing 73 losers, while 54 issues were unchanged. Trading turnover reached P5.79 billion on 64,748 transactions, involving 1.13 billion shares.
Despite the rally, foreign investors remained net sellers, offloading P286.36 million worth of shares. Data from the Philippine Stock Exchange showed total foreign buying at ₱2.49 billion and total selling at P2.78 billion.
Japhet Tantiangco, senior research manager at Philstocks Financial Inc., said the local market’s recovery was driven by hopes that the ceasefire would usher in a longer period of calm in the Middle East.
“The easing of tensions between Israel and Iran helped boost investor sentiment and lifted regional bourses,” Tantiangco said.
Seth Pangan, trader at Diversified Securities Inc., added that the pullback in global oil prices — falling below $70 per barrel — provided additional relief for markets sensitive to inflation concerns.
The ceasefire came after Israeli Prime Minister Benjamin Netanyahu said his country accepted a US-brokered proposal following what he described as the successful neutralization of Iran’s nuclear and ballistic missile threat.
The truce potentially ends a 12-day conflict that forced mass evacuations in Tehran and stirred fears of a broader war that could disrupt oil shipments through the Strait of Hormuz — a critical corridor for one-third of global seaborne oil and gas flows.
Global equity markets responded strongly. The MSCI’s benchmark for Asian emerging market stocks surged 2.6 percent, reversing Monday’s 0.8 percent slide. South Korea’s benchmark index soared 3 percent to close at its highest level since late September 2021. Indonesian and Taiwanese equities gained 1.3 percent and 2.1 percent, respectively.
Luis Limlingan, managing director at Regina Capital Development Corp., said investor attention is now shifting to the US, where Federal Reserve Chair Jerome Powell is scheduled to testify before the House Financial Services Committee.
“Markets are looking for clues on the Fed’s policy outlook, especially after recent data showed mixed signals on inflation and growth,” Limlingan said.
