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PSEi rebounds on de-escalation hopes, strong overseas remittances

Business | The Stock Market

PSEi rebounds on de-escalation hopes, strong overseas remittances

By James A. Loyola

The Philippine Stock Exchange index (PSEi) recovered the previous day’s loss on more substantial remittance numbers as well as hopes that the Israel-Iran conflict will de-escalate.

The main index added 10.61 points or 0.17 percent to close at 6,3699.19. Industrials led the advance while Banks lagged. Volume declined to 2.11 billion shares worth P5.94 billion as gainers beat losers 124 to 82, with 42 unchanged.

“Philippine and US stocks rebounded as hopes grew that the Israel-Iran conflict would stay contained, easing oil price concerns,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Philstocks Financial Research Manager Japhet Tantiangco said, “The local market bounced with positive cues from Wall Street, helping in the climb. Investors also digested the Philippines' overseas Filipinos' cash remittance data for April which posted a 4.0 percent growth.”

Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said the PSEi was higher ahead of the possible -0.25 BSP rate cut on Thursday, June 19, 2025 that could further reduce borrowing costs/funding costs by listed companies, consumers, institutions and other borrowers in the economy.

Also contributing to positive sentiment is the faster year-on-year growth in the latest OFW remittances data and reports that Iran signaled that it would like to de-escalate the conflict with Israel and willingness to resume nuclear talks with the US.

Related Tags

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

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