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Manila Bulletin devider Business devider The Stock Market devider Philippine stocks snap slump as US softens Greenland stance

Philippine stocks snap slump as US softens Greenland stance

Published Jan 22, 2026 05:21 pm
The Philippine Stock Exchange index (PSEi) rebounded on Thursday, Jan. 22, as investors engaged in bargain hunting, tracking the Wall Street recovery fueled by de-escalating geopolitical tensions over United States (US) interests in Greenland.
The benchmark PSEi gained 68.50 points, or 1.08 oercent, to finish at 6,398.60. The advance snapped a four-session losing streak, with holding firms leading the broad-based rally even as the mining sector lagged due to profit-taking.
Market breadth was positive, with 116 issues advancing against 82 decliners, while 61 stocks remained unchanged. Trading activity remained relatively tempered, with volume easing to 780 million shares valued at ₱6.6 billion.
Sentiment improved after US President Donald Trump signaled a softening stance regarding the acquisition of Greenland, suggesting a framework for future deal had been established. The move effectively withdrew immediate threats of higher tariffs on several European nations that had previously rattled global markets.
“The PSEi ended higher as concerns over global uncertainty and trade wars eased, improving overall market sentiment,” said Luis Limlingan, managing director at Regina Capital Development Corp.
Limlingan noted that the local index found firm support as investors pivoted toward undervalued stocks following nearly a week of selling pressure.
The recovery was further bolstered by strengthening domestic currency. The Philippine peso’s appreciation against the US dollar provided an additional tailwind for local equities, according to Japhet Tantiangco, research manager at Philstocks Financial Inc.
Tantiangco noted that positive spillovers from overnight gains in New York encouraged local participants to return to the fray.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the local market’s upward correction was a direct response to US benchmarks bouncing back from one-month lows to trade near record highs.
The reversal in US sentiment followed the White House’s decision to de-escalate trade rhetoric tied to the Greenland proposal, which had briefly threatened to destabilize trans-Atlantic economic ties.
While conglomerates provided the primary momentum for the index, analysts remain cautious about the sustainability of the rally, noting that total turnover value of ₱6.6 billion suggests some investors are still waiting for clearer long-term signals before committing fresh capital.

Related Tags

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