MANILA — The Philippine Stock Exchange Index (PSEi) reclaimed the 6,000-point threshold on Wednesday, closing at 6,063.35 after gaining 50.25 points, or 0.84 percent. The rally was fueled by renewed optimism over potential diplomatic progress in the Middle East and a strong overnight performance on Wall Street.
Analysts attributed the market's rebound to growing investor confidence as geopolitical risks appeared to subside. Japhet Tantiangco, research manager at Philstocks, noted that the local bourse took cues from American equities, which rallied on hopes that the United States and Iran might be moving toward a compromise following reports of renewed talks.
“Optimism was further supported after the US President Donald Trump signaled that the war may be nearing an end, with talks potentially resuming this week,” said Luis Limlingan, head of sales at Regina Capital Development Corp.
Market activity remained robust, with net value turnover reaching ₱7.26 billion, surpassing the year-to-date average of ₱6.48 billion. All sectoral indices ended in positive territory, led by the banking sector, which advanced 1.23 percent. Market breadth was favorable, with 112 advancing issues against 73 decliners.
Among index heavyweights, Bank of the Philippine Islands emerged as the top gainer, climbing 3.13 percent to ₱102.30. In contrast, DigiPlus Interactive Corp. was the biggest laggard, shedding 5.06 percent to ₱15.00.
Despite the overall uptick, foreign investors continued to exit the market, recording net outflows of ₱1.37 billion. Analysts cautioned that while sentiment has improved, lingering uncertainties warrant continued vigilance among investors.