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Manila Bulletin devider Business devider The Stock Market devider Stocks surge as global market rally triggers bargain hunting

Stocks surge as global market rally triggers bargain hunting

Published Aug 20, 2026 05:12 pm
The Philippine Stock Exchange index (PSEi) rebounded as the surge across global markets emboldened investors to hunt for bargains in the local equity market.
The PSEi jumped 80.12 points, or 1.3 percent, to close at 6,238.46 on Thursday, Aug. 20, driven by broad-based gains led by a rally in mining shares.
Trading volume expanded to 3.48 billion shares valued at ₱8.78 billion. Market breadth was positive, with 113 advancing issues outpacing 67 decliners, while 66 stocks ended unchanged.
Investors stepped in to capitalize on discounted valuations after the recent market pullback, according to Luis Limlingan, managing director at Regina Capital Development Corp.
The recovery also reflected a renewed appetite for risk assets as international equities traded in positive territory, though market participants remain cautious while waiting for new catalysts to sustain the upward momentum, Limlingan added.
Local equities took positive cues from an overnight rally on Wall Street that was fueled by a decline in United States (US) Treasury yields, said Japhet Tantiangco, research manager at Philstocks Financial Inc. Investors actively sought out battered shares after previous sessions of selling pressure pushed prices to attractive levels, Tantiangco added.
Market sentiment also gained support from a stabilizing domestic currency, said Michael Ricafort, chief economist at Rizal Commercial Banking Corp.
The peso strengthened after five consecutive days of depreciation against the US dollar. The peso’s recovery was aided by the US Treasury Department's decision to increase buybacks of long-term government debt, a strategic move aimed at pulling down long-term Treasury yields and easing demand for the greenback, Ricafort said.

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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