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Investors cheer MSCI changes, PSEi climbs back above 6,000 mark

Business | The Stock Market

Investors cheer MSCI changes, PSEi climbs back above 6,000 mark

By James A. Loyola

The Philippine Stock Exchange index (PSEi) recovered some lost ground, returning above the 6,000 level following the announcement of changes to the MSCI Philippine Index, effective at the end of February.

The main index rose by 56.38 points, or 0.94 percent, to close at 6,044.13, led by conglomerates. Volume was relatively stable at 534 million shares worth P5.84 billion, though losers outnumbered gainers 103 to 74, with 64 unchanged.

“Philippine shares closed higher as the latest MSCI rebalancing results reflected the latest inflow and outflow from the quarterly review,” said Luis Limlingan, Managing Director of Regina Capital Development Corporation.

Meanwhile, Wall Street closed mixed on Tuesday as investors digested Fed Chairman Jerome Powell’s cautious rate outlook and escalating trade tensions. New tariffs on steel and aluminum drew threats of EU retaliation, adding to market jitters.

“Focus now shifts to key inflation data, with the CPI due Wednesday and the PPI on Thursday,” Limlingan added.

Related Tags

Regina Capital Development Corporation Luis Limlingan Philippine Stock Exchange index (PSEi)

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