PSEi keeps climbing, now past 6,488

The Philippine Stock Exchange Index (PSEi) rose on Monday as investors snapped up select shares amid continued earnings releases. Still, global trade concerns tempered overall trading activity.

The benchmark PSEi added 23.39 points or 0.36 percent to close at 6,488.51. The broader All Shares Index also finished higher.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said the market extended its gains as corporate earnings continued to influence investor positioning.

“The PSEi ended higher as buying pressure persisted in today’s session, with more earnings releases driving sentiment toward individual stocks,” Limlingan said.

However, he noted that caution remained due to external risks.

“Concerns over new tariffs kept trading volume subdued, as fresh global uncertainties weighed on overall market activity,” he added.

Indices for industrial and mining and oil led the advance, climbing 0.98 percent and 2.97 percent, respectively.

The property sector also outperformed with a 1.39 percent rise, while financials and holding firms added marginal gains. Only the services index dipped slightly.

See Also

February 11, 1986: Sniper kills 1, wounds another in Cory rally

Trading remained relatively subdued, with total turnover amounting to about P6.12 billion. This reflected measured participation as investors continued to assess market prospects.

Market breadth was positive, with 123 gainers outpacing 69 decliners, while 72 stocks were unchanged.

Market turnover reached P5.49 billion, net of extraordinary block sales, reflecting measured participation. Among individual stocks, Leisure & Resorts World Corp. led the gainers, soaring 19.64 percent to P0.67.