The Philippine Stock Exchange Index (PSEi) extended its recovery on Monday, 29 June 2026, closing at 6,133.41, up 61.17 points, or 1.01 percent, from Friday’s finish, while the peso appreciated to P61.17 per dollar compared with P61.29 from the end of last week.

Investor sentiment improved following reports that the United States and Iran had agreed to de-escalate hostilities and resume diplomatic discussions after renewed tensions over the weekend. The easing geopolitical backdrop encouraged investors to return to risk assets, particularly large-cap stocks that had been heavily discounted during the recent market pullback.

Despite the advance, market participation remained tepid, with net value turnover reaching only P4.36 billion, one of the lightest sessions in recent weeks. The muted turnover suggests many investors remain cautious and are waiting for greater clarity on geopolitical and economic developments. 

Foreign investors were net buyers, however, recording net inflows of P311.20 million and providing additional support to the market.

The rally was led by the financial sector, which gained 1.85 percent, benefiting from expectations that a more stable external environment and easing oil prices could reduce inflationary pressures and support domestic economic activity.

The mining and oil sector was the only major laggard, falling 1.53 percent as lower crude oil and commodity prices weighed on resource-related counters.

Globe Telecom (GLO) emerged as the day’s strongest index performer, surging 6.94 percent to P1,925.00 amid investor optimism surrounding the planned public offering of GCash parent company Mynt, which many analysts project will break the record fundraising set by Monde Nissin at its 2021 debut.

In contrast, Semirara Mining and Power Corp. (SCC) declined 3.96 percent to P23.05, reflecting weaker sentiment toward coal and energy-related stocks following the pullback in global commodity prices.

The Philippine peso also strengthened against the US dollar, closing at P61.17 per dollar compared with P61.29 at the end of last week, representing an appreciation of 12 centavos, or about 0.20 percent.

The currency traded within a relatively narrow range of P61.125 to P61.32 during the session. The Bankers Association of the Philippines (BAP) weighted average rate declined to P61.229 from P61.288 previously, while total spot foreign exchange turnover eased to approximately $1.43 billion from $2.05 billion on Friday.

The lower turnover, combined with peso appreciation, suggests that demand for dollars moderated as market participants grew more comfortable holding regional currencies amid receding geopolitical risks.

The peso’s strength over the past 24 hours was largely driven by improving global risk sentiment following signs that tensions between the United States and Iran were unlikely to escalate into a broader regional conflict.

Financial markets responded positively to reports that both sides were pursuing diplomatic engagement after the weekend flare-up, reducing fears of prolonged disruptions to Middle Eastern oil supplies. As a result, global crude prices remained well below the peaks reached earlier in the month, easing concerns over imported inflation for oil-dependent economies such as the Philippines.

The decline in safe-haven demand for the US dollar also supported emerging-market currencies across Asia. For the Philippines, lower oil prices improve the country’s trade outlook by reducing fuel import costs and helping contain inflation pressures, which in turn supports the peso.