James A. Loyola
Published May 13, 2025
The local stock rallied after the early release of results of a peaceful mid-term elections and a pause on the US-China trade war.
The main index jumped by 108.62 points or 1.68 percent to close at 6,566.82 as the Services sector lead the charge while Miners lagged behind as gold prices dropped. Volume was high at 1.15 billion shares worth P8.89 billion as gainers outnumbered losers 96 to 83 with 58 unchanged.
“Local shares kicked off the shortened trading week in the green, lifted by a broad rally in U.S. equities on Monday after a temporary U.S.-China tariff reduction deal eased trade tensions,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He added that, “The positive sentiment spilled over into Asian markets and was further supported by the peaceful conduct of Monday’s midterm elections.”
Chinabank Capital Corporation Managing Director Juan Paolo Colet said “The PSE benchmark index surged above the key resistance around 6,500 on strong volume as investors bought into positive news of a 90-day detente in the US-China trade war as well as the generally peaceful outcome of the Philippine midterm elections.”
“This is a good start to the shortened trading week, but sustaining this will now depend on the market’s reaction to upcoming data flows, including first quarter corporate earnings and the US April inflation print,” he noted.
Philstocks Financial Research Mamager Japhet Tantiangco said “The local market rose further upon the resumption of trading as investors took cues from Wall Street's rally overnight.
“This came as the US and China agreed to temporarily cut tariffs while continuing trade negotiations, raising hopes of a trade deal between the two economic superpowers which would benefit the global economy.”
