PSEi, Peso up at midday

The Philippine Stock Exchange index (PSEi) traded higher during as of Wednesday midday, climbing 55.34 points or 0.85% to 6,529.94 as of the market’s lunch break, supported by gains across most sectors. 

The broader All Shares index likewise rose 0.75% to 3,619.95. Sectoral indices were mostly positive, led by Industrials which advanced 1.58%, followed by Property (+1.26%), Financials (+1.14%), and Mining and Oil (+0.98%). Holding Firms added 0.40% while Services posted a modest 0.21% gain.

Trading activity was anchored by index heavyweights and actively traded names. International Container Terminal Services, Inc. (ICT) led turnover with P1.10 billion worth of trades, rising to P671.50. Other actively traded stocks included Aboitiz Equity Ventures, Inc. (AEV) at P33.80, Jollibee Foods Corporation (JFC) which surged to P208.60, Bank of the Philippine Islands (BPI) at P120.40, and BDO Unibank, Inc. (BDO) at P140.90. 

Gains in select blue chips such as JFC, BPI, and Ayala Land, Inc. (ALI) helped buoy the benchmark, offsetting declines in Ayala Corporation (AC) and marginal weakness in BDO.

Market sentiment was supported by continued foreign participation and improving risk appetite amid expectations of supportive domestic macroeconomic conditions and stable inflation outlook. Investors also remained watchful of global market cues and upcoming corporate earnings releases for clearer direction.

Meanwhile, the peso strengthened further, trading around the mid-P58 level against the US dollar based on reference rates from the Bankers Association of the Philippines, reflecting sustained dollar inflows and improved sentiment toward emerging market currencies. 

The peso’s appreciation helped support equities by easing imported inflation concerns and improving the outlook for interest rate policy, which in turn lifted sentiment toward rate-sensitive sectors such as property and financials.