Philippine share prices edged higher on Monday, with bargainhunters capitalizing on recent dips while
closely watching developments in ongoing tariff negotiations between Manila and Washington.
The benchmark PSEi gained 0.78 percent, or 49.02 points, to close at 6,352.74.
The broader All Shares rose 0.46 percent, adding 17.16 points to 3,753.44.
Gainers outnumbered losers, 104 to 82, with 56 stocks holding steady.
Total trade value reached P5.79 billion across 68,319 trades, involving 1.14 billion shares.
Despite the market’s ascent, foreign funds were net sellers by P36.3 million, with P2.6 billion in purchases against P2.64 billion in sales.
Stock brokerage Philstocks Financial Inc. noted investors were “hunting for bargains following last week’s steep decline.”
Sentiment also received a boost from President Ferdinand Marcos Jr.’s visit to the US, sparking hopes for a more favorable trade deal ahead of the August 1 deadline.
Further stock price advancements are possible, “once negotiations and ongoing earnings season sentiment kick in,” Luis Limlingan, managing director at Regina Capital and Development Corp., said.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp. (RCBC), added that US tariffs on Philippine exports at 20 percent remain “among the lowest so far,” citing recent announcements by US President Donald Trump.
