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Manila Bulletin devider Business devider The Stock Market devider PSEi inches up on news of two US rate cuts

PSEi inches up on news of two US rate cuts

Published Mar 20, 2025 07:32 am

The PSEi only made a small gain even after the US Federal Reserve gave a clearer target for its rate cuts this year.

The main index added 10.01 points or 0.16 percent to close at 6,323.13, as the mining sector surged on higher gold prices, while banks retreated. Volume declined to 1.06 billion shares worth ₱5.6 billion, as gainers edged out losers—103 to 98, with 44 unchanged.

“Philippine shares made modest gains ahead of the FTSE rebalancing and after the Federal Reserve reaffirmed its outlook for two rate cuts in 2025, keeping rates at 4.25 percent to 4.5 percent despite expectations of higher inflation and slower growth,” said Regina Capital Development Corp. Managing Director Luis Limlingan.

Fed Chair Jerome Powell downplayed the inflationary impact of tariffs, calling it transitory.

Markets also monitored US President Donald Trump’s tariff policies, with a temporary reprieve on Canadian and Mexican imports set to expire on April 2.

Philstocks Financial Research Manager Japhet Tantiangco said, “The local market rose further on the back of the positive cues from Wall Street. This came as the Federal Reserve maintained its outlook of two policy rate cuts for this year. Hopes that the BSP will cut their policy rates at their April meeting also gave the market a boost.”

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