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Manila Bulletin devider Business devider The Stock Market devider PSEi advances as oil prices drop on Middle East peace hopes

PSEi advances as oil prices drop on Middle East peace hopes

Published May 22, 2026 05:18 pm
The Philippine Stock Exchange index (PSEi) rose again in thin volume on Friday, May 22, on hopes of peace between the United States (US) and Iran, which has also led to lower world crude oil prices.
The main index added 40.70 points, or 0.69 percent, to close at 5,961.40. Conglomerates led the advance, while services got left behind.
Volume dropped to 729 million shares worth ₱4.19 billion. Gainers edged out losers—89 to 84, with 61 unchanged.
“The PSEi finished in positive territory as easing oil prices and signs of progress toward a possible US-Iran peace deal lifted investor sentiment,” said Regina Capital Development Corp. managing director Luis Limlingan.
Renewed risk appetite helped sustain buying interest despite lingering geopolitical and economic uncertainties.
Philstocks Financial Inc. research manager Japhet Tantiangco said, “The local market extended its gains, taking cues from Wall Street’s overnight rally as hopes that the US and Iran would reach a peace deal soon continue to fuel positive sentiment.”
However, he noted that trading was anemic as many investors stay out of the market amid lingering uncertainties.
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the PSEi was higher after Nymex crude oil price corrected lower recently, breaking below the $100-mark, now at $98 per barrel levels.
“For the week, the PSEi slightly corrected lower after gaining for two straight weeks, by 15.27 points or 0.3 percent, erasing most of the previous week’s gains of 15.80 points or 0.3 percent,” he added.

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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