The Philippine Stock Exchange index (PSEi) bounced back above the 5,900 level on Thursday, mirroring a rally on Wall Street. The benchmark index closed at 5,934.56, up by 1.2% from the previous session.
Trading was driven by positive sentiment from the US markets, where major indices rose on optimism over interest rate cuts. Investors also took cues from strong corporate earnings reports and easing inflation concerns.
Sector indices were mostly in the green, with holding firms and property stocks leading the charge. Total value turnover reached PHP 5.8 billion, with net foreign buying recorded at PHP 340 million.
Analysts said the rebound signals a possible recovery from recent losses, but cautioned that market volatility may persist due to global economic uncertainties.