Market sustains momentum ahead of inflation data

1 week ago 13

Richmond Mercurio - The Philippine Star

March 5, 2025 | 12:00am

The Philippine Stock Exchange index (PSEi) rose by 0.45 percent or 26.92 points to 6,064.11, while the broader All Shares index settled at 3,628.96, up by 0.24 percent or 8.84 points.

STAR / File

MANILA, Philippines — The local stock market sustained its climb yesterday on optimism toward the country’s February inflation.

The Philippine Stock Exchange index (PSEi) rose by 0.45 percent or 26.92 points to 6,064.11, while the broader All Shares index settled at 3,628.96, up by 0.24 percent or 8.84 points.

Unicapital Securities Inc. equity research analyst Peter Garnace said that the PSEi bucked the losses of its Asian peers as investors positioned ahead of February inflation release, with consensus expecting a slower print at 2.6 percent.

The Philippine Statistics Authority will release the February inflation data today.

“The local bourse initially dropped as investors assessed the impact of the implementation of tariffs to Canada, Mexico and China. However, the market pared its early losses amid continued bargain hunting and optimism over the trajectory of inflation,” Garnace said.

Trading remained active with net value turnover reaching P6.56 billion.

Mining and oil led all counters with a 3.72-percent surge, while property posted the biggest decline at 0.12 percent.

Market breadth was positive as advancers edged out decliners, 107 to 84, while 49 issues were unchanged.

ACEN recorded the largest gain among index members, rising by 3.29 percent, while Jollibee Foods lost the most, declining by 2.33 percent.

Markets fell in volatile trade yesterday on fears of a trade war after China announced fresh tariffs on US imports in retaliation for President Donald Trump’s latest levies.

China said it would impose levies of 10 and 15 percent on a range of US agricultural imports in response to Trump’s tariffs.

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