Buying lifts PSE index to over nine-month high

The main index soared to an over nine-month high on Tuesday as investors bought blue chips on bullish prospects.

The Philippine Stock Exchange index (PSEi) jumped by 0.91% or 59.47 points to close at 6,547.98, while the broader all shares index went up by 0.63% or 22.86 points to end at 3,614.47.

This was the PSEi’s best finish in more than nine months or since it ended at 6,551.81 on May 14, 2025.

The main index opened Tuesday’s trading session at 6,508.82, rising from Monday’s close of 6,488.51. It fell to a low of 6,482.13 intraday but finished at its best showing for the session.

“The local bourse breezed through the 6,500 hurdle as investors positioned on index heavyweights with promising prospects, led by ICT which ascended to another all-time high,” AP Securities, Inc. said in a market note, referring to the ticker symbol of International Container Terminal Services, Inc., whose shares rose by PHP 22 or 3.27% to close at PHP 694 each on Tuesday.

“The local market extended its gains as investors continued to cheer the local currency’s improved position against the US dollar. Optimism towards fourth-quarter and full-year 2025 corporate results also helped in the climb,” Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.

The peso on Monday surged to a five-month high of PHP 57.575 versus the dollar as the US Supreme Court struck down the “reciprocal” tariffs imposed by President Donald J. Trump. However, on Tuesday, the local currency fell by 18 centavos to close at PHP 57.755 as Mr. Trump said he would raise a temporary tariff from 10% to 15% on US imports from all countries.

The Trump administration is also considering new national security tariffs on industries like large-scale batteries, cast iron and iron fittings, plastic piping, industrial chemicals and power grid and telecom equipment, the Wall Street Journal said, based on a Reuters report.

Majority of sectoral indices closed higher on Tuesday. Services rose by 2.18% or 58.90 points to 2,757.13; industrials increased by 1.48% or 137.43 points to 9,399.60; holding firms went up by 0.38% or 19.63 points to 5,155.86; mining and oil climbed by 0.05% or 10.97 points to 19,368.79; and financials inched up by 0.03% or 0.85 point to 2,182.44. Meanwhile, property declined by 0.4% or 8.98 points to 2,202.83.

Advancers narrowly outnumbered decliners, 100 to 98, while 74 names closed unchanged.

“JG Summit Holdings, Inc. was the day’s index leader, climbing 4.71% to PHP 31.10. Ayala Land, Inc. was the day’s worst index performer, dropping 5.08% to PHP 20.55,” Mr. Tantiangco said.

Value turnover rose to PHP 8.07 billion on Tuesday with 2.07 billion shares traded from the PHP 6.12 billion with 867.18 million issues that changed hands on Monday.

Net foreign buying went down to PHP 406.68 million from the PHP 858.86 million in the previous session. — A.G.C. Magno