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Manila Bulletin devider Business devider The Stock Market devider Stocks advance as global energy supply worries ease

Stocks advance as global energy supply worries ease

Published Mar 11, 2026 04:43 pm
Local stocks climbed for a second consecutive session as investors scooped up beaten-down shares, tracking the broader shift in sentiment fueled by expectations of a massive release of global oil reserves.
The Philippine Stock Exchange index (PSEi) advanced 31.67 points, or 0.52 percent, to finish at 6,158.33 on Wednesday, March 11. While the benchmark stayed in positive territory, it closed off its intraday highs as a rally in mining and oil companies was partially offset by weakness in lenders and conglomerates.
Trading remained active with 1.37 billion shares changing hands, valued at ₱7.95 billion. Advancers led decliners 131 to 66, while 57 issues remained unchanged.
The recovery comes as market participants react to reports of a coordinated international effort to stabilize energy costs.
“The local market extended its rise on hopes that International Energy Agency member countries will release their emergency reserves to support the global oil supply that is disrupted by the conflict in the Middle East,” said Japhet Tantiangco, research manager at Philstocks Financial.
Market sentiment also drew support from a stabilizing local currency. The peso’s performance improved following signals from Malacañang that President Marcos would support intervention by the Bangko Sentral ng Pilipinas to defend the currency.
“The PSEi rose again because the peso improved after the administration signaled it would favor central bank action,” said Michael Ricafort, chief economist at Rizal Commercial Banking Corp.
Despite the two-day gain, analysts noted that the rebound lacks the momentum of a full-scale bull run. Luis Limlingan, managing director at Regina Capital Development Corp., characterized the move as a technical recovery where investors cherry-picked oversold stocks following recent volatility on Wall Street.
However, he warned that the buying remains "selective and cautious" as geopolitical tensions and global economic uncertainties weigh on the long-term outlook.
The sectoral performance was mixed, reflecting the complex global backdrop. While the Mining and Oil sub-index surged on the prospect of supply shifts, the heavyweight Banking and Holding Firm sectors saw profit-taking, preventing the main index from testing higher resistance levels. Investors are now looking toward upcoming inflation data and further central bank commentary to determine if the 6,100-level support will hold through the end of the week.

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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