The Philippine Stock Exchange index (PSEi) was higher on Tuesday, Dec. 9, as investors anticipate the rate cuts that may be announced by the Bangko Sentral ng Pilipinas (BSP) and the United States Federal Reserve (US Fed).
The main index added 27.42 points, or 0.46 percent, to close at 5,976.64. Sectoral indices were equally divided.
Volume rose to 1.19 billion shares worth ₱10.54 billion. Losers outnumbered gainers—132 to 83, with 48 unchanged.
“The local bourse moved relatively flat and quiet for today’s sessions as investors remained cautious,” said Regina Capital Development Corp. managing director Luis Limlingan.
He added that, “Market participants are closely monitoring the upcoming BSP and Fed policy decisions as traders are likely waiting for clearer signals before taking stronger positions.”
Philstocks Financial Inc. research manager Japhet Tantiangco said, “The local market’s sideways movement ended in the positive territory as investors hunted for bargains following last week’s decline.”
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the PSEi was higher ahead of the widely expected 0.25-percent BSP rate cut on Thursday, Dec. 11, and expectations of another 0.25-percent Fed rate cut on Wednesday, Dec. 10, which could be matched locally.
“The PSEi also gained after President Marcos asked Congress to prioritize the passage of the anti-dynasty bill, among other reform measures. The executive and legislative departments also agreed on the timeline for the passage of the 2026 budget,” he noted.