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Manila Bulletin devider Business devider The Stock Market devider Stocks surge after PBBM keeps economic team intact

Stocks surge after PBBM keeps economic team intact

Published May 23, 2025 04:22 pm
The PSEi rose on the last trading day of the week as uncertainties eased after President Marcos chose to keep his economic team intact after asking his cabinet secretaries to tender their courtesy resignations.
The main index jumped 107.73 points or 1.71 percent to close at 6,413.10 as Banks led the charge while Mining firms declined due to weaker gold prices. Volume was lower at 854 million shares worth P6.25 billion as gainers beat losers 109 to 82 with 54 unchanged. “The local bourse closed higher as investors engaged in bargain hunting following recent declines, focusing on prospects for reform and improved market operations,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said “The Philippine Stock Exchange Composite Index (PSEi) corrected higher after President Marcos maintained his economic team a day after asking for the courtesy resignation of all cabinet secretaries, thereby providing greater predictability and continuity in terms of policies or priorities, especially from the point of view of the local financial markets.”
He added that, BSP Governor Remolona also signaled a less dovish tone of two
0.25 BSP rate cuts versus the previous signal of three 0.25 BSP rate cuts hinted more than two weeks ago for the rest of 2025 and also signaled reserve requirement cut in 2026.

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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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