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Manila Bulletin devider Business devider The Stock Market devider PSEi gains ground for third day, bucks trade tension concerns

PSEi gains ground for third day, bucks trade tension concerns

Published Apr 23, 2025 08:26 am

The Philippine Stock Exchange index (PSEi) edged higher, buoyed by gains in US markets, a strengthening peso, and positive corporate earnings.

The benchmark index climbed by 22.89 points or 0.37 percent to finish at 6,168.48 on Wednesday, April 23, although sectoral indices showed a mixed performance. Trading volume increased to 650 million shares valued at P8.17 billion. Market breadth was negative as 97 issues declined, 92 advanced, and 56 remained unchanged.

Luis Limlingan, Managing Director at Regina Capital Development Corporation, commented that "Philippine shares booked minor gains as investors brushed off US-China trade tensions, mirroring the US market's sharp rebound driven by optimism for a de-escalation in trade relations between the two countries."

Japhet Tantiangco, Research Manager at Philstocks Financial, noted that "Gains for the day are attributed to the positive cues from Wall Street, the Peso's improving position, and appreciation of corporate fundamentals."

However, Tantiangco also pointed out that "It is noticed however that the market still moved sideways within the day, at times visiting negative territory, as investors remain concerned with the global economy amid the US' tariff policies."

Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort stated that "The Philippine Stock Exchange Composite Index (PSEi) gained for the 3rd straight trading day after the latest dovish signals/reiterations from local monetary authorities; also after some improved signals from Trump that led to the latest gains in the US stock markets."

Ricafort further added that, "The PSEi also continued to gain after mostly better corporate sales and earnings reports recently that could support market valuations; also after the peso exchange rate remained among the strongest versus the US dollar in 6.5 months."

Related Tags

Regina Capital Development Corporation Luis Limlingan Japhet Tantiangco Philippine Stock Exchange index (PSEi) Michael Ricafort Philstocks Financial Rizal Commercial Banking Corp.
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