PSEi breaks four-day losing streak, peso recovers more

The Philippine Stock Exchange Index (PSEi) rebounded on Thursday, snapping a four-day slide to finish up 1.08 percent at 6,398.60. 

The bounceback was driven by bargain hunting and positive spillovers from Wall Street, alongside easing geopolitical concerns after US President Trump rescinded his tariff threats, with his comments at the World Economic Forum in Davos, Switzerland today suggesting a framework toward de-escalation between the US and select European countries who opposed Trump’s planned acquisition of Greenland.

Relatively subdued trading

Trading was relatively subdued, with net value turnover at P5.41 billion, but foreign investors remained net buyers, posting P284.11 million in inflows. 

Sector performance was broadly positive: Conglomerates led with a 1.27 percent gain, while mining was the lone decliner, down 1.82 percent. Market breadth improved, with advancers outnumbering decliners, 116 to 82. 

Peso  strengthened further

The peso strengthened to P59.16 per dollar, improving from P59.26 yesterday. The recovery reflected easing global risk aversion and profit-taking on long dollar positions after recent gains in the greenback. 

A pullback in oil prices and calmer geopolitical headlines reduced near-term demand for dollars, while improved sentiment and foreign inflows into local equities helped steady the currency. Despite the uptick, the peso remains near historically weak levels and sensitive to shifts in US rate expectations and global risk sentiment.