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Manila Bulletin devider Business devider The Stock Market devider PSEi climbs as investors cheer CMEPA passage, low inflation hopes

PSEi climbs as investors cheer CMEPA passage, low inflation hopes

Published Jun 2, 2025 05:13 pm

The local stock market rose as investors cheered the passage of a law that will reduce the stock transaction tax while also betting that the inflation rate would remain low last May.

The main index added 11.13 points or 0.18 percent to close at 6,352.66 as the Property sector led the advance, although Conglomerates and Industrials retreated. Volume was high at 618 million shares worth P7.08 billion as gainers beat losers 119 to 80, with 54 unchanged.

“Philippine shares closed slightly positive to kickstart the month of June as the market gears up for new economic data that could influence price action movement this week,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

In the US, markets will watch Wednesday’s ISM services PMI and Friday’s jobs report for signals on growth and labor trends. Jobless claims and speeches from Fed officials may also influence rate expectations.

Locally, key data includes Monday’s manufacturing PMI, Thursday’s May inflation, and Friday’s unemployment, industrial output, and consumer confidence, offering a broad view of economic health.

Philstocks Financial Research Manager Japhet Tantiangco said, “The local market started the week on a positive note, driven by expectations that the Philippines' inflation rate last May had remained below the government's two percent to four percent target, in turn giving the Bangko Sentral ng Pilipinas more room to cut their policy rate.

"Gains were tempered, however, with concerns over US President Donald Trump's plan to double the US' steel import tariffs.”

Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said, “The PSEi corrected higher after the passage of the CMEPA Law that reduced taxes/transaction costs of stock market transactions.”

Other factors include the possible further easing of the inflation data that could support another 0.25 local policy rate cut as early as the next BSP rate-setting meeting on June 19, 2025; EDSA rehab suspension for 1 month; and softer local manufacturing PMI but which is still in expansion mode and that could also support possible -0.25 BSP rate cut as early as June 19, 2025.

Related Tags

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