MANILA – Bargain hunting pushed the Philippine Stock Exchange index (PSEi) higher Monday, while the peso strengthened against the U.S. dollar amid fragile market sentiment.
The local bourse’s main index rose 0.74 percent to 5,743.18 points, and the broader All Shares by 0.35 percent to 3,203.11 points.
Most of the sectoral gauges, however, finished in the red, except for Services, which rose 1.97 percent, and Holding Firms, up 1.70 percent.
Financials led the decliners with a 1.07 percent drop, followed by Property at 0.33 percent, Mining and Oil at 0.31 percent, and Industrial at 0.15 percent.
Volume was thin at 512.96 million shares amounting to PHP6.2 billion.
Gainers led losers at 103 to 87, while 55 shares were unchanged.
“The PSEi ended higher as bargain hunting continued from last week’s rebound. However, market sentiment still looks fragile, with the index hovering around the 5,700 level amid a lack of sustained positive catalysts, as selective buying still prevails across the broader market,” Luis Limlingan, Regina Capital Development Corporation head of sales, said in a market report.
Limlingan said the continued geopolitical uncertainty and lingering macroeconomic risks may weigh on investor confidence and limit the index’s recovery in the near term.
Meanwhile, the local currency gained to the greenback after closing the day at 62.76 against its 62.80 finish last Friday.
It opened the day at a better level of 62.65, and traded between 62.65 and 62.8. The average for the day stood at 62.73.
Volume went down to around USD1 billion from USD1.39 billion in the previous session.
Rizal Commercial Banking Corporation chief economist Michael Ricafort traced the peso’s recovery to the two-day rally of the PSEi, the last day of the Mynt/GCash initial public offering, and the correction oil global oil prices.
He forecasts the local currency to trade between 62.65 to 62.85 to a U.S. dollar on Tuesday. (PNA)
MARKET SENTIMENT. The Philippine Stock Exchange index gained anew on Monday (Oct. 12, 2026) due to bargain-hunting. This also benefited the Philippine peso and helped it recover against the United States dollar.
