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Stocks bounce ahead of Trump inauguration

Business | The Stock Market

Stocks bounce ahead of Trump inauguration

By James A. Loyola

Share prices recovered as investors position ahead of the inauguration of US President Donald Trump.

The main index jumped 86.60 points to 1.38 percent to close at 6,352.12 as Banks led the advance across the board. But volume declined to 994 million shares worth P4.93 billion as gainers outnumbered losers 100 to 82 with 59 unchanged.

“Philippine shares rebounded after yesterday's sell-off with the investors bargain hunting across the board for undervalued names before the inauguration of President Trump,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that “the market also stayed positive for most of the day, supported by Wall Street gains and the Israel-Hamas ceasefire and possible deal that could put an end to the war."

Philstocks Financial Research Manager Japhet Tantiangco said "the local market bounced back today as investors hunted for bargains following yesterday’s losses."

"China’s 5.4 percent fourth quarter 2024 GDP growth rate which came in above expectations also helped in today’s climb," he added.

Related Tags

Regina Capital Development Corporation Luis Limlingan Japhet Tantiangco Philippine Stock Exchange index (PSEi) Philstocks Financial

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