Philippine stocks rise amid bargain hunting

Philippine stocks managed to end higher on Monday as last-minute bargain hunting offset concerns over renewed tensions between the United States and Iran.

The benchmark Philippine Stock Exchange Index (PSEi) gained 0.21 percent or 12.92 points to close at 6,251.38.

Philstocks Financial Inc. said the market spent most of the session in negative territory as investors weighed the latest exchange of threats between Washington and Tehran.

The brokerage said concerns centered on the Strait of Hormuz after the United States warned of heavier economic sanctions against Iran, while Tehran threatened to seize ships that violate rules in the key waterway.

Geopolitical risks surrounding the strait remain elevated. Shipping through the waterway has been disrupted amid the conflict, keeping investors wary of potential repercussions for global energy markets.

Philstocks said bargain hunters emerged in the final minutes of trading, allowing the local bourse to reverse its losses and finish in positive territory.

Luis Limlingan, head of sales at Regina Capital Development Corp., said the local bourse ended higher after a cautious trading session, with investors remaining wary following news of an “economic D-Day for Iran.”

“Strong buying interest emerged toward the close, pushing the market into positive territory. The late-session buying provided support despite prevailing uncertainty,” Limlingan said.

Net value turnover stood at only P4.37 billion as many stayed on the sidelines amid uncertainties in the Middle East.

Foreign investors were also net sellers, recording net outflows of P82.3 million.

Sectoral indices ended mixed. Mining and oil led the gainers with a 3.19-percent jump, while industrials posted the steepest decline at 0.39 percent.

Emperador Inc. was the top PSEi performer, climbing 4.26 percent to P15.66.

The liquor company earlier announced that it would rejoin the FTSE Global Equity Index Series as a Small Cap constituent following the September 2026 semiannual review.

On the other end, Monde Nissin Corp. was the main index laggard, falling 3.66 percent to P6.85.

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