The stock market’s benchmark index pushed past the 6,500 level on Wednesday, lifted by follow-through buying as recent economic data helped reinforce confidence in the country’s growth momentum.
The PSEi rose 70.74 points or 1.10 percent to close at 6,504.34. The broader All Shares added 33.45 points or 0.88 percent to finish at 3,817.62.
“The rally was backed by investors’ confidence toward the local economy,” Japhet Tantiangco, research manager at Philstocks Financial Inc., said, citing stronger-than-expected data on employment, manufacturing and bank lending.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the recent string of positive indicators has “somewhat affirmed the resilience of the local economy,” helping sustain market momentum.
Heavyweight stocks led the advance.
International Container Terminal Services Inc. rallied 3.57 percent on strong volume.
Trading remained active, with turnover reaching P7.79 billion across 78,042 transactions involving 1.41 billion shares. Market breadth was positive with 110 advancers against 90 decliners, while 50 issues were unchanged.
Despite the rally, foreign investors were net sellers by P220.66 million, with total outflows reaching P3.61 billion against P3.39 billion in purchases.
Regional markets also traded higher. Singapore extended its record-setting streak, while stocks in Indonesia, South Korea, Vietnam and Taiwan gained up to a percentage point, brushing off tariff uncertainty from Washington.
