Upcoming IPOs boost PSEi

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June 30, 2026 | 12:00am

MANILA, Philippines — The local stock market sustained its winning ways, propelled by optimism of the initial public offering (IPO) from some of the country’s largest tech players and the resumption of peace talks between the United States and Iran.

The benchmark Philippine Stock Exchange index (PSEi) yesterday rose by 1.01 percent or 61.17 points to close at 6,133.41, opening the week on a high note.

The broader All Shares index also improved by 0.68 percent or 22.61 points to settle at 3,352.96.

Regina Capital Development Corp. head of sales Luis Limlingan said trading was lifted by news of IPO filings from some of the country’s biggest tech drivers.

GCash’s parent Mynt Inc. announced it has filed its application to be listed on the main board of the PSE.

“The PSEi ended higher as market sentiment improved following fresh IPO developments. Also, investors showed renewed optimism, as they monitored new market opportunities and corporate activities,” Limlingan said.

“Trading remained focused on catalysts that could support further market momentum,” Limlingan added.

Michael Ricafort, chief economist at RCBC, said the PSEi closed above the 6,000-mark for the third straight trading session yesterday after the US and Iran agreed to pause retaliatory attacks and resume peace talks.

The PSEi saw P5.17 billion worth of shares change hands, with 96 winners beating 75 losers, while 70 issues were unchanged.

Logistics giant International Container Terminal Services Inc. was the most actively traded stock yesterday, gaining 0.56 percent, or P5, to climb to P890 a piece, while Globe Telecom Inc. came second, picking up 6.94 percent, or P125, to reach P1,925.