The local stock market rally marked its fifth day, capping a week of recovery with a strong gain as positive corporate earnings and recent economic data supported investor confidence.
The main index rose by 78.33 points or 1.26 percent to close at 6,298.29, led by the jump of the services sector, while the property index barely budged. Volume was steady at 528 million shares worth ₱6.33 billion, as gainers beat losers—105 to 79, with 57 unchanged.
“The local bourse continued its rally to close near 6,300 level following better economic print and good corporate earnings,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Meanwhile, US equities declined on Thursday as investor concerns persisted despite the White House's latest concessions on President Donald Trump’s contentious tariff policies.
He noted that, “Uncertainty over US tariffs and mixed signals from the White House fueled renewed market declines, as investors remained wary of shifting trade policies and potential economic impacts.”
"The local market extended its gaining streak to a 5th day as investors continue to cheer the Philippines’ inflation slowdown and its positive implications to household consumption and to the BSP’s policy easing prospects," said Philstocks Financial Research Manager Japhet Tantiangco.
He added that, "The satisfactory 2024 corporate results and the Peso’s improving position also helped in today’s trading. Foreigners were net buyers for the day with net inflows at ₱158.85 million."