PSEi rises for 6th-straight day
Philippine stocks ended higher on Wednesday, extending a winning streak to a sixth consecutive session as investors continued to accumulate shares despite lingering concerns over rising tensions in the Middle East.
The benchmark Philippine Stock Exchange Index (PSEi) gained 28.66 points or 0.46 percent to close at 6,275.77.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi gained for a sixth straight trading day and has now advanced in nine of the last 10 sessions.
“The benchmark index rose 28.66 points, finishing at its highest closing level in more than four months, or since March 6, 2026. This follows the correction from its recent high of 6,396.23 posted on June 16, 2026,” Ricafort said.
Luis Limlingan, head of sales at Regina Capital Development Corp., said buying momentum remained intact throughout most of the session, although geopolitical risks kept investors from becoming overly aggressive.
“The local bourse ended higher as buying momentum persisted, extending its winning streak to a sixth consecutive session,” Limlingan said.
He noted, however, that escalating tensions in the Middle East tempered gains, resulting in cautious trading during the day.
Some investors also locked in profits during afternoon trading, trimming the market’s earlier advance. Even so, the PSEi managed to finish in positive territory.
Market breadth remained negative despite the index’s gain, with 80 advancers and 98 decliners.
Trading activity was likewise moderate. Total value turnover reached P5.08 billion, while net turnover, excluding extraordinary block sales, stood at about P4.7 billion.
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