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Manila Bulletin devider Business devider The Stock Market devider Local stocks rebound as investors pick up cheaper shares

Local stocks rebound as investors pick up cheaper shares

Published May 21, 2025 04:01 pm
The local equities market finally bounced after a five-day correction as investors began to pick up cheaper stocks.
The main index added 40.02 points or 0.63 points to close at 6,375.35 led by the jump in the Mining sector on the back of higher gold prices. Volume was relatively stable at 712 million shares worth P7.63 billion as gainers outnumbered losers 107 to 81 with 52 unchanged.
“Philippine shares booked modest growth on Wednesday despite a slow start earlier in the session, as investors looked for new catalysts following the earnings season.”
Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said “The Philippine Stock Exchange Composite Index (PSEi) finally corrected slightly higher… after bank’s net income in the first quarter of 2025 grew by 10.6 percent year-on-year to P101.9 billion and banks’ total assets as of March 2025 grew by 7.7 percent year-on-year to P27.64 trillion alongside the continued growth in earnings of other big corporates, thereby could support higher valuations.

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Philippine Stock Exchange index Regina Capital Development Corporation Luis Limlingan Rizal Commercial Banking Corporation Michael L. Ricafort
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