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Manila Bulletin devider Business devider The Stock Market devider PSEi bounces in cautious trading after 3-day plunge

PSEi bounces in cautious trading after 3-day plunge

Published Jun 1, 2026 04:59 pm
The Philippine Stock Exchange index (PSEi) rose on bargain hunting on Monday, June 1, after the steep drop over the last three trading days of the previous week.
The main index added 30.56 points, or 0.53 points, to close at 5,799.32, mainly on the strength of the services sector as three sectors still declined.
Volume was hefty at 564 million shares worth ₱8.5 billion. Gainers outnumbered losers—102 to 93, with 61 unchanged.
“The PSEi ended higher following the steep sell-down last Friday, as the market shifted into bargain-hunting mode,” said Regina Capital Development Corp. managing director Luis Limlingan.
However, gains were capped in the afternoon session as participants remained cautious, he said, adding that, positioning stayed defensive, with many maintaining short exposures ahead of the upcoming May inflation data on Friday, June 5.
Philstocks Financial Inc. research manager Japhet Tantiangco said, “The local market rose as investors hunted for bargains following three straight days of decline. The S&P Global Philippines manufacturing purchasing managers’ index (PMI) for May, which improved to 50.8 from April’s 48.3, helped in today’s climb.”
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the PSEi was up also after Nymex crude oil price corrected lower and is now at $89-per-barrel levels.

Related Tags

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