MANILA, Philippines — The local stock market sustained its upward trajectory, marking a successful return to the 6,200 level on hopes of inflation slowing further in June.
The benchmark Philippine Stock Exchange index (PSEi) advanced for a fourth straight session yesterday, adding 0.58 percent or 35.96 points to close at 6,223.99.
The broader All Shares index also gained 0.53 percent or 18.03 points to settle at 3,388.97.
Luis Limlingan of Regina Capital said the local bourse was supported by continued buying interest amid positive market sentiment.
“Investors took cues from reports suggesting a potential easing in June inflation. This encouraged selective accumulation and a generally risk-on tone in the market,” Limlingan said.
The country’s June 2026 inflation data will be released today.
RCBC chief economist Michael Ricafort said June inflation is expected to ease further after cooling to 6.8 percent in May from 7.2 percent in April due to the sharp decline in global oil prices.
Ricafort added that hints of faster economic growth from Department of Economy, Planning and Development and the Bangko Sentral ng Pilipinas as well as the upgrade of the Philippines to the upper-middle income status by the World Bank boosted investor sentiment.
All sectoral gauges were in the green, except for services which shed 1.72 percent. Financials posted the highest jump at 1.85 percent, followed by holding firms which expanded by 1.69 percent.
Total turnover value amounted to P6.5 billion, starting the week strong.
Advancers edged out decliners, 100 to 83, while 59 issues were unchanged.
ICTSI was the session’s top traded stock, plunging by 2.03 percent to P849.50 per share, followed by banking giants BDO Unibank and BPI which surged by 2.83 percent and 2.97 percent, respectively, to P127 and P104.