Stocks rebound as tariff concerns ease

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January 23, 2026 | 12:00am

MANILA, Philippines —  The local stock market recovered yesterday after four days of losses, buoyed by investor optimism over recent developments related to US President Donald Trump’s tariff threats on some European countries.

The benchmark Philippine Stock Exchange index jumped by 1.08 percent or 68.50 points, closing yesterday’s session at 6,398.60.

The broader All Shares index also improved by 0.62 percent or 22.31 points to end at 3,619.

“Philippine equities tracked Wall Street gains after Trump retracted his tariff imposition on European countries over Greenland as discussed at the World Economic Forum in Davos, with both sides committing to a dialogue rather than a military arms race in resolving the matter,” AP Securities Inc. said.

All sectors finished in the win column, except for mining and oil which fell by 1.82 percent.

Holding firms posted the largest gain at 1.27 percent, followed by financials, which grew by 1.02 percent.

Market breadth was positive as advancers battered decliners, 116 to 82, while 61 issues did not change hands.

Total value turnover declined slightly to P6.60 billion from the previous day’s P6.87 billion.

ICTSI kept its streak going as the session’s top traded stock, advancing by 0.80 percent to P630 per share. RL Commercial REIT followed with a 2.35-percent drop to P7.90, while Jollibee climbed by 1.37 percent to P207.

Shares of SPNEC, which announced a rebranding as MGEN Renewable Energy Holdings, surged by 15.04 percent to P1.30 per share.