Philippine stocks ride Wall Street rebound
PSEi closing March 13, 2025
MANILA, Philippines — Anxious investors seemed to calm down on Thursday and instead hunted for cheap stocks following the market’s steep decline over the past week.
By the end of the session, the benchmark Philippine Stock Exchange Index (PSEi) recovered by 0.76 percent or 46.81 points to close at 6,242.07.
Likewise, the broader All Shares Index climbed by 0.53 percent or 19.6 points to 3,701.4.
A total of 1.04 billion shares worth P5.65 billion changed hands as foreigners made net purchases worth P436.1 million, stock exchange data showed.
Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said the bourse’s gain was due to bargain hunting as investors became more optimistic with news that inflation in the United States cooled.
READ: Stocks advance on US inflation slowing, Ukraine ceasefire plan
Before Thursday’s climb, the index went below the 6,200 level amid escalating global trade war tensions.
Property firms ended in the red as Ayala Land Inc., the top-traded stock, closed lower by 2.91 percent to P21.65 per share.
It was followed by BDO Unibank Inc., up 3.95 percent to P158; Bank of the Philippine Islands, up 2.78 percent to P136.90; International Container Terminal Services Inc., up 3.18 percent to P376; and Jollibee Foods Corp., down 1.08 percent to P257.20 each.
READ: Asian stocks wobble as US inflation fails to ease trade worries
Other actively traded stocks were Metropolitan Bank and Trust Co., up 1.48 percent to P72.05; SP New Energy Corp., up 8.7 percent to P1.25; RL Commercial REIT Inc., up 2.8 percent to P6.60; Universal Robina Corp., down 2.78 percent to P70; and SM Investments Corp., down 0.18 percent to P812.50.
There were 90 gainers against 93 losers, while 45 companies closed unchanged, stock exchange data also showed.
