The local stock market inchd up despite losses in the US caused by Trump’s increasing attempts to influence the US Federal Reserve.

The main index added 7.59 points or 0.12 percent to close at 6,145.59 as Miners led the advance, with only Banks retreating. Volume was thin at 593 million shares worth ₱4.84 billion as gainers outnumbered losers 95 to 83, with 52 unchanged.

“Philippine shares managed to eke out minor gains once again as the market brushed off President Trump’s renewed attacks on Fed Chair Jerome Powell,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that, “For the US market, it was a sell-off once again as the rhetoric of the POTUS sparked concerns over central bank independence, while global trade negotiations showed little progress, weighing on sentiment.”

“Meanwhile, the Philippine market posted modest gains as investors resumed bargain hunting, supported by optimism around strong corporate fundamentals and confidence in the local economy’s ability to weather external risks, including U.S. tariff pressures,” Limlingan said.

Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said, “The PSEi slightly corrected higher for the second straight trading day after mostly better corporate sales and earnings reports recently that could support market valuations.”

He noted that, “the recent sell-off in the US financial markets amid plans by the Trump Administration to fire Fed Chair Jerome Powell and threatened the independence of the US central bank/Federal Reserve amid Trump’s suggestions to cut Fed rates led to some shifts to safer havens outside the US that could have benefitted some Philippine financial markets, as alternative to US financial markets, such as the PSEi.”