News quoting US President Donald Trump about a possible delay in potential attacks on Iran’s power plants lifts investors’ sentiment and buoys the Philippine Stock Exchange index on Tuesday (March 24, 2026). This also benefited the peso, which improved to the 59-level after closing at the 60-level in the past two sessions. (PNA file photo)
Philippine financial markets regained some ground on Tuesday as a temporary easing of tensions in the Middle East helped calm investor nerves, allowing both the stock market and the peso to recover from the previous session’s weakness.
The Philippine Stock Exchange index (PSEi) climbed 0.63 percent to 5,936.20, while the broader All Shares index advanced 0.57 percent to 3,295.23.
Luis Limlingan, head of sales at Regina Capital Development Corp., said the local market bounced back after Monday’s sharp sell-off as sentiment improved following remarks by US President Donald Trump about delaying a potential attack on Iran’s power plants.
“The Philippine market rebounded after the previous session’s sharp sell-off, supported by improved sentiment following Donald Trump’s remarks about delaying the potential attack on Iran’s power plants. This temporary easing of geopolitical tensions helped lift equities, mirroring gains seen in global markets after the announcement,” Limlingan said.
Still, he noted that investors remain cautious as oil prices stay elevated, reflecting lingering supply risks and continued uncertainty in the Middle East.
Most sectoral indices closed higher, led by Mining and Oil, which surged 3.4 percent. Financials gained 1.63 percent, Property rose 1.51 percent, Holding Firms added 0.94 percent, and Industrial advanced 0.74 percent.
Services was the lone decliner, slipping 0.49 percent.
Trading activity remained subdued, with volume reaching 633.85 million shares valued at PHP5.7 billion. Market breadth, however, was positive, with advancers outnumbering decliners, 129 to 63, while 59 issues were unchanged.
The improved sentiment also spilled over to the currency market, with the peso strengthening to 59.95 against the US dollar from Monday’s 60.30 finish.
The local currency showed signs of recovery early in the session, opening at 59.90, stronger than the previous day’s 60.15 start. It moved within a range of 59.68 to 60.15, with the average exchange rate settling at 59.92.
Volume in the foreign exchange market likewise increased to USD2.69 billion from USD1.65 billion in the previous session, signaling renewed activity as investors responded to shifting global risk sentiment.
