The benchmark PSEi made significant gains on Tuesday, driven by a resurgence in investor confidence after Wall Street’s overnight rise and ahead of Thursday’s release of official Philippine inflation data.
Luis Limlingan, managing director at Regina Capital and Development Corp., pointed to the PSEi’s breach of the 6,400-point mark, “driven by broad market optimism ahead of Thursday’s May inflation report.”
Investors were also encouraged by the overnight uptick on Wall Street despite growing trade concerns over the US-China tensions and economic uncertainty, Limlingan said.
The PSEi gained 0.95 percent or 60.2 points to close at 6,412.86.
The broader All Shares index rose 0.74 percent or 27.54 points to 3,770.95.
Trading activity also reflected heightened investor engagement. A total of 739.3 million shares changed hands across 82,052 individual trades.
The aggregate value of shares traded reached about P5.98 billion. This figure represents a notable increase in market activity, compared with the P5.62 billion net value turnover recorded on June 2.
The market breadth indicated a near-even distribution between advancing and declining issues, with 103 issues gaining, 102 declining, and 52 remaining unchanged.
Japeth Tantiangco, an analyst from Philstocks Financial Inc., noted the main catalyst for this advance was the pervasive optimism surrounding an anticipated further slowdown in the May 2025 inflation rate.
This source of confident optimism is significant as it is widely believed to provide the Bangko Sentral ng Pilipinas with increased flexibility to implement policy rate cuts, thereby fostering a more conducive economic environment for both businesses and consumers.
Stock brokerage SB Equities Inc. noted the optimism is also reflected in the continued inflow of foreign funds into the market.
Foreign investors continued to demonstrate robust confidence in the Philippine market, contributing to the day’s positive close.
They registered net purchases amounting to P168.83 million, following a significant net inflow of P418.29 million on June 2.
Foreign funds bought P2.92 billion worth of shares and sold P2.75 billion, comprising 48.75 percent of Tuesday’s trade.
Only the banking sector closed in the red after shedding a slight 0.06 percent, Tantiangco said, while properties led gainers, adding 1.64 percent.
Most actively traded International Container Terminal Services Inc. gained P3 to P415. Bloomberry Resorts Corp. rose P0.54 to P4.94. BDO Unibank Inc. shed P3.30 to P158.70. Ayala Land Inc. increased by P0.25 to P23.75. Bank of the Philippine Islands advanced by P1.20 to P141. SM Prime Holdings Inc. gained P0.65 to P23.60. Metropolitan Bank and Trust Co. rose P1.55 to P76.20. DigiPlus Interactive Corp. added P1 to P56.50. Jollibee Foods Corp. advanced P1.20 to P230.60. Universal Robina Corp. rose P2.50 to P87.50.
