PSEi advances on positive US data

MANILA, Philippines — The local stock market resumed its winning ways yesterday following a one-day break, boosted by positive data from the United States.

The bellwether Philippine Stock Exchange index climbed by 0.22 percent or 14.27 points to close the shortened-trading week at 6,395.59.

Also finishing the session higher was the broader All Shares index, which inched up by 0.24 percent or 9.12 points to settle at 3,785.31.

“Philippine stocks edged higher as fresh data from the US pointed to a more resilient economy. The May producer price index rose just 0.1 percent, softer than expected, reinforcing hopes that inflationary pressures are easing. Bond yields dipped following the report,” Luis Limlingan of Regina Capital said.

“However, gains were capped by renewed trade uncertainty after President Trump signaled that his July 8 tariff deadline could be extended—but warned that it might not be needed if talks wrap up early,” he said.

Total value turnover was strong, closing the week at P9.87 billion.

Most sectors were in the green, led by mining and oil, which surged by 4.32 percent.

Holding firms and services, meanwhile, slipped by 0.48 percent and 0.41 percent, respectively.

Advancers edged out decliners, 108 to 92, while 47 issues were unchanged.

BDO was the session’s most active, climbing by 2.68 percent to P160.70 per share, followed by SM Investments, which declined by 0.57 percent to P875.

Both companies were among the seven Philippine firms that made it to the latest Forbes’ Global 2000 list, a ranking of the largest public companies in the world.