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Manila Bulletin devider Business devider The Stock Market devider Stocks rebound as US-Iran de-escalation eases energy fears

Stocks rebound as US-Iran de-escalation eases energy fears

Published May 6, 2026 05:41 pm
Local equities rebounded as global market anxieties eased after United States (US) President Donald Trump announced a temporary pause on naval escort operations in the Strait of Hormuz, shifting Washington’s focus toward securing a peace agreement with Iran.
The benchmark Philippine Stock Exchange index (PSEi) gained 69.13 points, or 1.17 percent, to close at 5,967.21 on Wednesday, May 6. Mining companies led the advance, offsetting declines among lenders.
Trading volume rose to 1.35 billion shares valued at ₱7.64 billion, though market breadth remained negative as declining stocks outnumbered gainers 103 to 93, with 56 issues unchanged.
The recovery tracked a broader stabilization across global financial markets. The US decision to pause its naval escort initiative, dubbed Project Freedom, came after Trump signaled progress in backchannel negotiations to resolve the conflict in the Middle East, helping calm energy markets and broader geopolitical jitters.
Luis Limlingan, managing director at Regina Capital Development Corp., noted that the PSEi’s gains mirrored the international market response to a holding ceasefire between the US and Iran. Investor sentiment improved as Washington indicated that the truce remains intact, which helped temper immediate fears of severe disruptions to global oil supply routes.
While the easing of geopolitical tensions provided a relief rally, local market participants kept a cautious stance. Investors are awaiting the release of domestic gross domestic product data amid persistent concerns over global stagflation risks.
Japhet Tantiangco, research manager at Philstocks Financial, said the market reacted positively to the halting of US military assistance for commercial vessels in the strategic waterway.
The pause was seen as a strategic window to facilitate a diplomatic breakthrough with Tehran, reducing the risk of a direct military escalation that could choke off a key global energy corridor.
The de-escalation also triggered a pullback in global commodity markets,

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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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