Philippine Stock Market Rallies for Fourth Consecutive Day Amid Credit Rating Affirmation and US Rate Cut

The Philippine stock market continued its upward momentum by closing higher for the fourth consecutive session as investors actively engaged in bargain hunting.

The Philippine Stock Exchange index (PSEi) gained 0.5 percent, equivalent to 30.87 points, ending the day at 6,264.49. Meanwhile, the broader All Shares index inched up by 0.17 percent, finishing at 3,740.81.

RCBC chief economist Michael Ricafort attributed the sustained market strength to the recent confirmation of the Philippines’ "A-" credit rating by the Japan Credit Rating Agency, coupled with record highs in US stock markets following the Federal Reserve’s anticipated interest rate reduction.

According to AP Securities Inc., "The market continued to creep higher on moderate volume, although the index trimmed its gains at the close on profit-taking ahead of the weekend."

Sector performances were varied: financial stocks surged 2.01 percent, leading the gains, whereas the industrial sector declined by 0.60 percent. Trading activity intensified, with turnover value more than doubling to ₱14.3 billion from ₱6.87 billion the previous session.

However, market breadth was negative, with decliners outnumbering advancers 105 to 93, while 57 stocks remained unchanged.

ICTSI emerged as the most actively traded stock, climbing 0.39 percent to ₱509 per share. It was followed by Aboitiz Power, which increased 0.8 percent to ₱43.85, and Manila Water, which slipped 0.78 percent to ₱38.20.

Meanwhile, Asian markets experienced mixed results, rounding out a strong week of gains spurred by the US rate cut. Investor focus has now shifted to an upcoming conversation between US President Donald Trump and Chinese President Xi Jinping, scheduled later in the day.