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Manila Bulletin devider Business devider The Stock Market devider Local stocks extend rally on bets for early central bank pivot

Local stocks extend rally on bets for early central bank pivot

Published Jan 12, 2026 05:34 pm
The Philippine Stock Exchange (PSE) extended its winning streak to open the week as investors increased bets that a looming pivot toward monetary easing will catalyze domestic economic growth.
The PSE Index climbed 71.82 points, or 1.1 percent, to finish at 6,419.96 on Monday, Jan. 12. The move marked the sixth gain in seven sessions, underpinned by a broad-based rally led by mining shares.
Trading activity showed signs of life as volume reached 1.02 billion shares valued at ₱6.34 billion, with advancing issues comfortably outpacing decliners 142 to 80.
Sentiment was bolstered by fresh research from Nomura Holdings Inc., which suggested the Bangko Sentral ng Pilipinas could deliver 25-basis-point interest rate cuts as early as February and April.
This timeline for a more accommodative policy stance encouraged risk-taking, according to Luis Limlingan, managing director at Regina Capital Development Corp., who noted that buying momentum remained sustained throughout the trading day.
The local market is currently benefiting from a confluence of optimistic macroeconomic forecasts and positive cues from overseas markets.
Japhet Tantiangco, research manager at Philstocks Financial, said the extension of the rally reflects a growing conviction that the Philippine economy is positioned to regain its growth trajectory.
Investors are increasingly looking past immediate inflationary pressures toward a period of lower borrowing costs and improved corporate margins.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., pointed to upwardly revised growth estimates as a key pillar for the current bull run.
He noted that the latest United Nations estimates for gross domestic product now sit at 5.7 percent for 2026 and 6.1 percent for 2027. This fundamental optimism was further amplified by a record-breaking performance in United States equities, which continues to provide a favorable backdrop for emerging market assets.
The Mining and Oil index emerged as the session's standout performer, though the sentiment was felt across most sub-sectors as the main index successfully defended its recent technical support levels. While the PSEi remains below its long-term historical averages, the recent string of gains suggests that the market is finally pricing in a soft landing for the local economy.

Related Tags

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