Index finishes strong despite tension-filled week

March 15, 2025 | 12:00am

MANILA, Philippines — Investors have shown that they are unbothered by the political drama brewing from the arrest of former president Rodrigo Duterte, as they picked up more shares to cap a tension-filled week.

The benchmark Philippine Stock Exchange index (PSEi) yesterday rose by 0.83 percent or 52.04 points to close at 6,294.11, ending the week on a two-day run.

The broader All Shares index also grew by 0.55 percent or 20.20 points to settle at 3,721.6.

All industries, except for holding firms, turned in positive results.

Regina Capital Development Corp. head of sales Luis Limlingan said the PSEi is now closing in to the 6,300-marker after recovering from a choppy start to the week.

Limlingan noted that investors are still examining the impact of Duterte’s arrest as directed by the International Criminal Court.

However, Limlingan said fears remain among investors on the international front.

In the United States, the return of Donald Trump to the White House has resulted in a trade war redux with China, but this time Washington is also targeting Canada, Europe and Mexico.

“Locally, investors continue to digest news of former president Duterte’s arrest and the ongoing tariff concerns,” Limlingan said.

The market saw P6.32 billion worth of shares change hands throughout the day, with the winners outnumbering the losers, 103 to 90, while 45 issues were unchanged.

Banking giant BDO Unibank was the most actively traded stock, picking up 4.43 percent to P165 per share, followed by property giant Ayala Land, which gained three percent to P22.3 a piece.

Asian investors fought yesterday to grind out gains at the end of a painful week for markets as they welcomed signs that US lawmakers will avert a government shutdown, but remained fearful over Trump’s trade war.