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Manila Bulletin devider Business devider The Stock Market devider Stocks rise as US Fed fears cool, foreign buying returns

Stocks rise as US Fed fears cool, foreign buying returns

Published Jul 16, 2026 04:36 pm
Local equities rose for the second consecutive day as easing concern over the path of United States (US) interest rates and major foreign investment proposal in the local energy sector bolstered investor sentiment, overshadowing geopolitical tensions in the Middle East.
The Philippine Stock Exchange index (PSEi) added 22.65 points, or 0.36 percent, to close at 6,325.15 on Thursday, July 16. While the industrial and services sectors slipped, recovery in mining shares kept the broader market in positive territory.
Trading activity surged, with total volume climbing to 794 million shares valued at ₱7.42 billion, fueled largely by block sales. Market breadth was positive, as 117 stocks advanced, 78 declined, and 57 remained unchanged.
The local bourse maintained its upward trajectory as market participants began pricing in anticipated second-quarter corporate financial results, according to Luis Limlingan, managing director at Regina Capital Development Corp.
He noted that buying interest in select blue-chip equities successfully anchored the benchmark index despite persistent external headwinds.
Sentiment was largely supported by cooling US inflation data. The US June producer price index fell 0.3 percent, mitigating worries over the US Federal Reserve’s monetary policy outlook and encouraging foreign inflows, said Japhet Tantiangco, research manager at Philstocks Financial.
Even with the gains, broader market participation remained subdued. Net value turnover stood at 4.71 billion pesos—well below the year-to-date daily average of ₱6.30 billion—suggesting many institutional investors are still holding onto cash on the sidelines. However, international funds turned net buyers, registering 195.39 million pesos in net inflows.
The market also drew a significant psychological lift from a proposed $5 billion bid by Indonesia-based PT Barito Renewables Energy to acquire Energy Development Corp. (EDC).
The potential acquisition of the geothermal giant from Lopez-led First Gen Corp. signaled robust international interest in Philippine assets, raising expectations of future foreign currency inflows, according to Michael Ricafort, chief economist at Rizal Commercial Banking Corp.
The local equities market also benefited from consecutive sessions of foreign accumulation. Net foreign buying rose to approximately ₱197 million during the session, compared with ₱277 million in the previous trading day.

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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