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Manila Bulletin devider Business devider The Stock Market devider Local stocks gain for second day on strong employment figures

Local stocks gain for second day on strong employment figures

Published Oct 8, 2025 04:59 pm
The local stock market improved on sustained bargain-hunting as investor sentiment was lifted by encouraging employment data.
The main index added 14.91 points, or 0.25 percent, to close at 6,098.74 on Wednesday, Oct. 8. Miners led the advance, while Banks and Property counters offset gains.
A total of 4.54 billion shares worth ₱6.38 billion changed hands. Gainers edged out losers 94 to 92, with 65 unchanged.
“The PSEi continued to move upward as buying pressure supported the market’s momentum,” said Luis Limlingan, Managing Director of Regina Capital Development Corp.
He added that, “Investors remained optimistic ahead of the BSP’s upcoming interest rate decision, taking cues from the latest inflation data, which came in below the central bank’s target range.”
Japhet Tantiangco, Research Manager at Philstocks Financial, said, “The local market extended its climb as investors digested the Philippines' August labor market data which posted good figures with the number of employed increasing 8.8 percent month-on-month and 1.9 percent year-on-year.”
He noted that the market was also boosted by net foreign buying and the peso's strengthening against the US Dollar.
Rizal Commercial Banking Corp. Chief Economist Michael Ricafort said the PSEi gained for the second straight day amid a continuation of some bargain-hunting activities after generally better local employment data.
He said the better-than-expected local inflation data also raised hopes that it could still support a possible 0.25 percent BSP rate cut as early as Thursday, Oct. 9.

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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