The Philippine Stock Exchange index (PSEi) climbed above the 6,000 level on Wednesday, driven by easing global oil prices and improved investor sentiment. The benchmark index rose by 1.2% to close at 6,045.32, its highest level in weeks.
Analysts attributed the rally to a decline in crude oil prices, which alleviated concerns about inflation and its impact on consumer spending. The drop in oil prices also boosted prospects for lower transportation and production costs, benefiting sectors such as manufacturing and logistics.
Meanwhile, all sectoral indices ended in positive territory, with property and mining stocks leading the gains. Trading volume reached P5.8 billion, higher than the previous session, indicating renewed market participation.
Investors are now watching for upcoming economic data, including inflation figures and corporate earnings reports, which could influence the market's direction in the coming days.