1 week ago
4
Upgrade to High-Speed Internet for only ₱1499/month!
Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.
Visit Suniway.ph to learn
Richmond Mercurio - The Philippine Star
May 29, 2025 | 12:00am
The benchmark Philippine Stock Exchange index climbed by 0.64 percent or 41.18 points to end at 6,425.80.
STAR / File
MANILA, Philippines — The local stock market returned to its winning ways after mirroring gains on Wall Street, snapping a two-day losing streak.
The benchmark Philippine Stock Exchange index climbed by 0.64 percent or 41.18 points to end at 6,425.80.
The broader All Shares index also capped off the session in the win column, gaining by 0.47 percent or 17.56 points to 3,753.10.
Luis Limlingan of Regina Capital said that Philippine shares tracked US performance as investor’s risk appetite was renewed on tariff pause.
“Wall Street was on the green following news on postponement of 50 percent tariff on European Union. Meanwhile, gold prices continued to declined on improved risk after President Trump’s move to delay tariffs on EU,” Limlingan said.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi corrected slightly higher as US stock markets mostly gained due to progress in trade discussions between the US and the European Union.
All sectors were in the positive territory, led by financials, which soared by 1.46 percent.
Total value turnover improved to P6.3 billion from the previous day’s P5.1 billion.
Market breadth was positive as advancers squashed decliners, 118 to 80, while 48 issues were unchanged.
ICTSI was yesterday’s most active stock, rising by 1.33 percent to P410.20 per share, followed by BDO Unibank and Bloomberry Resorts which surged by 2.18 percent and 1.09 percent, respectively, to P164.10 and P4.65.
Among index members, JG Summit continued its hot streak, climbing by 2.35 percent, while Ayala Corp. dropped by 1.46 percent.
