PSEi gains amid optimistic outlook

The Philippine Stock Exchange Index (PSEi) gained more ground at the end of the trading week amid boosted investor optimism. This, as a United Nations report showed a better economic outlook for the Philippines.

The Philippine Stock Exchange Index (PSEi) jumped 0.44 percent, or 27.47 points, to close at 6,348.14.

The broader All Shares Index ended almost flat, falling by just 0.02 percent or 0.65 points to 3,607.

The industrial and property sectors were in the red while services and miners provided support.

“Market sentiment was buoyed by a UN report projecting faster economic growth for the country this year and next,” said Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp.

“This upbeat outlook helped sustain investor confidence and supported the index’s gains,” he added.

The Philippine economy is expected to expand 5.7 percent this year amid cooler inflation data and improved labor market. This is based on the latest United Nations World Economic Situation and Prospects reports,

For 2027, the Philippine economy may further grow to 6.1 percent.

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Philstocks financial research manager Japhet Tantiangco also said expectations of a fresh rate cut by the Bangko Sentral ng Pilipinas continued to support market sentiment.

“Foreign investors also helped in the climb with net inflows at P320.68 million,” Tantiangco said.

Trading was tepid with net value turnover at P5.62 billion.

Sy family-led BDO Unibank Inc. was the leading index gainer on Friday, jumping 2.13 percent to P139.10.