The Philippine Stock Exchange index (PSEi) snapped its three-day decline on Wednesday, driven by bargain hunting and upbeat factory activity data.
Investors snapped up undervalued shares, while favorable manufacturing data from the Philippines added to positive sentiment. The benchmark index rose by 0.5%, closing at 7,200 points.
Trading volume was moderate, with net foreign buying supporting the market. Analysts noted that the rebound was largely technical, as the index had fallen nearly 3% over the previous three sessions.
The manufacturing sector's performance, as measured by the S&P Global Philippines Manufacturing PMI, indicated expansion for the fourth consecutive month, providing a tailwind for investor confidence.
Market breadth was positive, with gainers outpacing losers. Property and holding firms led the advance, while mining and oil stocks lagged.
Looking ahead, traders will monitor corporate earnings releases and any developments in the US-China trade talks for further market direction.