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Manila Bulletin devider Business devider The Stock Market devider PSEi reclaims 6,000 mark as global optimism offsets GDP miss

PSEi reclaims 6,000 mark as global optimism offsets GDP miss

Published May 7, 2026 04:40 pm
The Philippine Stock Exchange index (PSEi) climbed back above the 6,000 threshold, shrugging off the weaker-than-expected economic growth report as investors focused on potential diplomatic breakthroughs between the United States (US) and Iran.
The benchmark gauge advanced 67.06 points, or 1.1 percent, to close at 6,034.27 on Thursday, May 7. Banking shares led the gains, providing the primary momentum for the broader market.
Trading volume reached 892 million shares with a total value of ₱7.92 billion. Advancing stocks outpaced those that fell 125 to 83, while 53 remained unchanged.
“The PSEi ended higher as investors tracked gains in global markets amid easing tensions in the Middle East,” said Luis Limlingan, managing director at Regina Capital Development Corp. “Strong buying pressure early in the session lifted the benchmark, reflecting improved risk appetite in equities.”
The market’s upward trajectory faced a brief setback after the government released gross domestic product data that missed analyst estimates. The disappointing figures triggered a wave of cautious positioning toward the end of the day, though the index managed to maintain its gains.
Japhet Tantiangco, research manager at Philstocks Financial Inc., noted that the prospect of a deal between Washington and Tehran acted as a stronger catalyst than the immediate economic data. 
Energy costs also played a role in the day's sentiment. Global crude prices retreated to near two-week lows, with the Nymex benchmark trading around $93 a barrel. The decline followed signals from US President Donald Trump that regional conflicts could see a resolution sooner than previously anticipated.
“The PSEi gained for the second straight trading day after global crude oil prices again declined,” said Michael Ricafort, chief economist at Rizal Commercial Banking Corp.
Lower oil prices generally provide relief to the Philippines, which is a net importer of fuel, helping to ease inflationary concerns while supporting the wider corporate landscape.

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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