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Manila Bulletin devider Business devider The Stock Market devider PSEi surges after US decision to escort ships in Strait of Hormuz

PSEi surges after US decision to escort ships in Strait of Hormuz

Published May 4, 2026 05:20 pm
The Philippine Stock Exchange index (PSEi) made a strong bounce on Monday, May 4, as bargain hunting began after more firms reported first-quarter earnings and outlooks while the United States (US) announced its plan to escort ships passing through the Strait of Hormuz.
The main index jumped by 108.52 points, or 1.86 percent, to end at 5,942.16. International Container Terminal Services Inc. (ICTSI) propelled the surge of the services sector, while miners were in the red.
Volume was thin though at 1.8 billion shares worth ₱6.52 billion. Gainers outnumbered losers—102 to 91, with 66 unchanged.
“The PSEi started the week higher after heavy selling pressure last Thursday, as bargain hunting emerged across select index names. Market sentiment improved as more companies released their first-quarter earnings, providing fresh cues for investors amid cautious trading conditions,” said Regina Capital Development Corp. managing director Luis Limlingan.
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the PSEi rose after US President Donald Trump signaled that the US will begin guiding some neutral ships trapped in the Persian Gulf out through the Strait of Hormuz starting May 4, which could help start new oil deliveries and supplies for the rest of the world.
Philstocks Financial Inc. research manager Japhet Tantiangco said, “The local bourse traded in positive territory following developments in the US-Iran tensions. Reports indicated that Iran has offered a new 14-point proposal to the US as part of efforts to reach a potential diplomatic resolution.”

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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