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Manila Bulletin devider Business devider The Stock Market devider Philippine stocks reclaim 6,400 as ₱1.4-trillion spending looms

Philippine stocks reclaim 6,400 as ₱1.4-trillion spending looms

Published Feb 3, 2026 05:00 pm
Stocks surged on Tuesday, Feb. 3, reclaiming the 6,400 level as investors shrugged off recent volatility in favor of an optimistic growth outlook and a massive government spending plan.
The benchmark Philippine Stock Exchange index (PSEi) climbed 104.88 points, or 1.67 percent, to finish at 6,401.96, fully recovering losses from the previous session.
The rally was broad-based, with the mining sector leading the advance. Market breadth was positive, as 134 issues rose while 84 fell and 60 remained unchanged. However, trading volume thinned to 1.15 billion shares valued at ₱6.91 billion.
Sentiment turned bullish after Fitch Solutions’ BMI maintained its 2026 growth forecast for the Philippines, a vote of confidence in the recovery of both public and private investment, providing a necessary buffer against recent domestic growth disappointments and lingering global uncertainties.
According to Luis Limlingan, managing director at Regina Capital Development Corp., the rebound occurred despite a “wait-and-see” approach from some investors positioned ahead of the latest inflation print.
The market was further energized by the Department of Finance’s signal that the government intends to deploy ₱1.44 trillion in spending in the first quarter of 2026. This aggressive fiscal push is designed to re-accelerate the economy following a period of uneven performance.
Japhet Tantiangco, research manager at Philstocks Financial, noted that the prospect of the capital injection, combined with expectations that the Bangko Sentral ng Pilipinas may deliver another interest rate cut at its February policy meeting, provided dual catalyst for the day’s gains.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., added that the ₱1.4 trillion spending plan serves as a critical pillar for the market’s recovery, as it directly addresses concerns regarding growth momentum.
While the index successfully breached the 6,400 psychological resistance, analysts warned that the sustainability of the rally will depend on whether inflation figures remain within the central bank's target range.

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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