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Bargain hunters pushed the Philippine Stock Exchange index (PSEi) higher on Thursday, Oct. 23, despite the continued weakness of the peso.
The main index increased by 23.09 points, or 0.38 percent, to 6,053.96. Sectoral indices were evenly mixed.
Volume dropped to 1.42 billion shares worth ₱4.8 billion. Losers outpaced gainers—99 to 92, with 68 unchanged.
“The Philippine market went up, driven by late bargain hunting toward the end of the trading day as investors sought opportunities after recent declines,” said Regina Capital Development Corp. managing director Luis Limlingan.
He noted though that, “overall sentiment remained cautious as the peso continued to weaken against the United States (US) dollar.”
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the market was slightly higher amid some bargain-hunting activities, as the PSEi has been relatively stable above 6,000 for all trading days since Oct. 1, 2025.
