The local stocks made a significant leap on Monday, soaring past the 6,400 mark, despite the peso experiencing a slight dip. The Philippine Stock Exchange index (PSEi) climbed by 0.46 percent, closing at an impressive 6,406.13, while All Shares followed suit, rising 0.19 percent to 3,786.59.
The trading session revealed a mixed bag among sectoral indices. The winners included Holding Firms and Services, both of which showcased strong growth, with a 1.15 percent increase, reaching 5,501.58 and 2,229.22 points, respectively. Financials also joined the climb with a 0.61 percent rise to 2,364.09.
On the flip side, Mining and Oil faced a downturn, slipping 3.70 percent to settle at 9,523.15. Property stocks fell by 0.81 percent to 2,270.76, while Industrial shares dropped 0.44 percent to end at 8,914.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., noted that the market’s closing value was among its highest in three weeks, nearing levels not seen since January 10, 2025. This upward momentum followed the affirmation of the Philippines’ A- credit rating with a stable outlook by the Japan Credit Rating Agency, alongside a boost in gross international reserves (GIR), now at an impressive $105.5 billion as of May 2025.
In terms of market activity, decliners outnumbered advancers, with 117 stocks falling against 85 that rose, leaving 50 stocks unchanged.
Meanwhile, the peso faced a setback, ending the day weaker at 55.81 against the US dollar, compared to Thursday’s close of 55.62. After opening at 55.85, it shifted throughout the day, reaching lows of 55.78 and highs of 55.88, with an average of 55.82 for the day.
Trade volume also dipped, settling at $767.8 million on Monday, down from last week’s robust $1.77 billion. It’s a day of mixed signals, but the resilience of the market shines through!
