Optimism on corporate earnings buoys PSEi

February 22, 2025 | 12:00am

MANILA, Philippines — Optimism on the 2024 financial results of local companies fueled a slight recovery in the benchmark Philippine Stock Exchange index (PSEi) at the final trading day of the week.

The PSEi capped off the week in the positive territory, increasing by 0.52 percent or 31.41 points to 6,098.04.

However, the broader All Shares index finished on the opposite end, slipping by 0.31 percent or 11.34 points to 3,660.28.

Philstocks Financial said in a report that the local market bounced back primarily because of investors’ optimism toward fourth quarter and full year 2024 corporate results.

It said that the peso’s strengthening against the dollar also helped in lifting the market.

“Philippine shares made a mild recovery just short of the 6,100 mark as investors continued to weigh the Fed’s latest minutes, which flagged risks from US trade and immigration policies,” Luis Limlingan of Regina Capital said separately.

Yesterday’s session saw net value turnover thin to P3.9 billion from the previous day’s P5.58 billion.

All sectors were in the green, except for financials which declined by 0.28 percent.

The property index, meanwhile, led the charge with a 1.53-percent jump.

Market breadth was positive as advancers edged out decliners, 102 to 91, while 44 issues were unchanged.

Property Ayala Land was the session’s top traded stock, climbing by 1.32 percent to P23.10 per share, followed by ICTSI with a 0.29-percent decline to P345.

Asian markets rose yesterday, putting the region on course to end a positive week on a strong note as traders weigh the economic outlook in light of US President Donald Trump’s tariffs drive and geopolitical machinations.