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Manila Bulletin devider Business devider The Stock Market devider Stocks rally as Mideast tensions ease, fuel buffer rises

Stocks rally as Mideast tensions ease, fuel buffer rises

Published Mar 31, 2026 05:58 pm
The Philippine Stock Exchange index (PSEi) surged on Tuesday, March 31, as investors pounced on undervalued stocks following signs of easing geopolitical tensions in the Middle East and fortification of the nation’s fuel reserves.
The benchmark PSEi jumped 79.45 points, or 1.35 percent, to finish at 5,948.94. Mining issues anchored the rally, while the Services sector stood as the lone decliner among industry gauges.
Trading floor activity picked up, with 1.04 billion shares valued at ₱9.81 billion changing hands. Market breadth remained positive as gainers outpaced losers, 124 to 79, while 62 issues were unchanged.
The rebound marked a decisive end to the quarter as bargain hunters moved in to capitalize on a recent streak of market weakness. “Philippine equities rebounded to end the quarter as bargain hunting emerged,” said Luis Limlingan, managing director at Regina Capital Development Corp. “Investors took advantage of lower valuations following recent market weakness, lifting overall sentiment.”
Sentiment across Southeast Asian markets found support in reports that US President Donald Trump has adopted a more conciliatory tone regarding the conflict with Iran.
Analysts noted that the White House signaled a willingness to de-escalate without demanding a complete reopening of the Strait of Hormuz as a prerequisite for talks. This shift eased immediate concerns over a protracted energy crisis that had previously weighed on import-dependent economies like the Philippines.
Adding to the domestic optimism were government efforts to secure energy corridors. Philstocks Financial Research Manager Japhet Tantiangco noted that the market tracked news of Manila’s plans to engage in diplomatic talks with Tehran to ensure safe passage for Philippine-bound vessels through the volatile Strait of Hormuz.
“The news caused investors to hunt for bargains,” Tantiangco said.
The rally was further underpinned by a stabilization in domestic energy security and a cooling of global oil prices. Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the index’s gains were supported by a slight downward correction in Nymex crude oil prices.
He added that the Department of Energy’s report of Philippine fuel inventories rising to a 51-day supply provided a necessary buffer for the economy, encouraging a broader appetite for risk assets as inflationary fears temporarily subsided.

Related Tags

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