PSEi recovers slightly on bargain-hunting
Philippine shares bounced slightly on Tuesday after investors scooped up bargains following Monday’s slump.
The Philippine Stock Exchange index (PSEi) went up by 0.67 percent, or 38.98 points, to close at 5,867.04.
The broader All Shares Index also inched up by 0.28 percent, or 9.98 points, to 3,558.88.
The key sectors closed mixed, with financials leading the recovery. Services and property likewise posted gains.
Stock data, however, showed that trading remained tepid, with a net value turnover of P5.36 billion.
“The benchmark stock index rebounded modestly on the back of bargain hunting and net foreign buying. Monday’s plunge brought many blue chips to compelling valuations, making them attractive to both opportunistic traders and long-term investors,” said Juan Paolo Colet, managing director at investment bank China Bank Capital Corp.
According to Philstocks financial research manager Japhet Tantiangco, other factors contributing to the slight uptick in local shares were the strengthening of the Philippine peso against the US dollar as well as the busier manufacturing sector.
The peso finished Tuesday at 58.515 against the greenback, up from 58.79.
Based on S&P Global’s Purchasing Managers’ Index, Philippine factory activity recorded a soft gain in October, improving business confidence for 2026.
Tantiangco also noted foreign investors had supported the market, with net inflows hitting P339.79 million.
However, Colet said uncertainties remained.
“Are we out of the woods already? Perhaps not yet. There’s still uncertainty on the political and economic fronts, so those could still weigh on sentiment,” he said.
Meanwhile, the market closed with 108 gainers, 83 decliners, and 57 remained unchanged.
DigiPlus Interactive Corp. was still the most actively traded stock for the day, climbing 10.53 percent to P25.20. DMCI Holdings, Inc. was the main laggard, falling 8.27 percent to P10.20.
