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Manila Bulletin devider Business devider The Stock Market devider PSEi bounces back to end week higher

PSEi bounces back to end week higher

Published Feb 21, 2025 07:23 am

The local stock market recovered some lost ground to close the week on a higher level than in the previous Friday.

The main index added 31.41 points or 0.52 percent to close at 6,098.04 as the Property sector bounced back to lead the advance while Banks dipped. Volume declined to 1.65 billion shares worth ₱4.44 billion as gainers outnumbered losers 102 to 91 with 44 unchanged.

“Philippine shares made a mild recovery just short of the 6,100 mark as investors continued to weigh the Fed’s latest minutes, which flagged risks from US trade and immigration policies,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

On the other side, US stocks retreated Thursday after two record highs for the S&P 500, as Walmart’s weak forecast raised concerns about consumer spending. The Conference Board’s Leading Economic Index also unexpectedly declined, adding to economic worries.

Philstocks Financial Research Manager Japhet Tantiangco said "The local market bounced back driven primarily by investors' optimism towards fourth quarter and full year 2024 corporate results. The Peso's strengthening against the US Dollar also helped in lifting the market."

 

Related Tags

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