1 month ago
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The PSEi recovered some lost ground to return above the 6,000 level following the announcement of changes MSCI Philippine Index that will be implemented at the endbof February.
The main index rose by 56.38 points or 0.94 percent to close at 6,044.13 with Conglomerates leading the advance across all sectors. Volume was relatively stable at 534 million shares worth P5.84 billion although losers still beat gainers 103 to 74 with 64 unchanged.
“Philippine shares closed higher as the latest MSCI rebalancing results reflected the latest inflow and outflow from the quarterly review,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Meanwhile Wall Street closed mixed Tuesday as investors digested Fed Chair Jerome Powell’s cautious rate outlook and escalating trade tensions. Trump’s new tariffs on steel and aluminum drew EU retaliation threats, adding to market jitters.
“Focus now shifts to key inflation data, with CPI due Wednesday and PPI on Thursday,” he added.
