The Philippine Stock Exchange index (PSEi) staged a recovery on Tuesday, buoyed by lower oil prices and an improved geopolitical outlook. The benchmark index gained 1.2% to close at 6,750.23, reversing losses from the previous session.
Analysts attributed the rebound to easing fears of a broader conflict in the Middle East, which has helped stabilize global oil markets. Brent crude futures fell below $80 per barrel, providing relief to import-dependent economies like the Philippines.
"The market is breathing a sigh of relief as oil price pressures subside and geopolitical risks appear more contained," said a local stockbroker. "Investors are also cautiously optimistic about the upcoming corporate earnings season."
Sectoral indices were mostly in positive territory, with property and industrial stocks leading the gains. Meanwhile, the Philippine peso strengthened against the US dollar, further boosting sentiment.