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Manila Bulletin devider Business devider The Stock Market devider PSEi rallies on renewed US-Iran peace hopes

PSEi rallies on renewed US-Iran peace hopes

Published Aug 3, 2026 04:58 pm

The Philippine Stock Exchange index (PSEi) rallied on Monday, Aug. 3, after oil prices fell on news that the United States (US) had halted strikes against Iran to allow peace negotiations to resume.

The main index jumped 98.28 points, or 1.58 percent, to close at 6,334.72. Services led the gains, while the property sector lagged.

Volume remained relatively light at 611 million shares worth ₱5.8 billion. Gainers outnumbered losers—109 to 79, while 53 issues were unchanged.

“The local market bounced back as global oil prices declined following US President Donald Trump’s announcement, saying that new strikes against Iran were held off and that negotiations with the country will resume. The announcement also strengthened the local currency, pushing it above the ₱61-per-dollar level,” said Philstocks Financial Inc. research manager Japhet Tantiangco.

Rizal Commercial Banking Corp. (RCBC) chief economist Michael L. Ricafort said the PSEi rose after global crude oil prices declined to their lowest levels in two weeks, or since July 15, 2026, and were also near five-month lows, or since March 10, 2026, helping ease concerns over inflationary pressures.

He added that the appreciation of the peso could help ease import costs and overall inflation.

Meanwhile, Regina Capital Development Corp. managing director Luis Limlingan said, “The local bourse ended higher as investors welcomed the third straight month of expansion in the country’s manufacturing PMI [purchasing managers’ index] and expectations of steady July inflation.”

Investor sentiment was further supported by optimism ahead of key macroeconomic data releases. Strong earnings from select index heavyweights also boosted buying interest, lifting the broader market.

Related Tags

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