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Richmond Mercurio - The Philippine Star
February 6, 2025 | 12:00am
The broader All Shares index likewise posted robust gains of 78.73 points or 2.18 percent, settling at 3,696.66.
STAR / File
MANILA, Philippines — The benchmark Philippine Stock Exchange index (PSEi) soared by 3.15 percent or 192.02 points to close yesterday’s session at 6,281.08.
The broader All Shares index likewise posted robust gains of 78.73 points or 2.18 percent, settling at 3,696.66.
“The Philippine Stock Exchange composite index again sharply corrected higher amid some bargain hunting activities after latest local inflation data still benign at 2.9 percent in January 2025 that could still support future monetary easing,” RCBC chief economist Michael Ricafort said.
The Philippine Statistics Authority yesterday announced the January inflation was unchanged from December’s 2.9 percent as price increases were offset by slower rise in costs of utilities as well as restaurant and accommodation services.
Headline inflation last month settled within the 2.5 to 3.3 percent forecast of the Bangko Sentral ng Pilipinas but was higher than the 2.8 percent booked in the same month last year.
Trading was strong at P7.19 billion, higher from the previous day’s P6.93 billion.
All counters were again in the positive territory, led by property and holding firms surging by 4.81 percent and 4.09 percent, respectively.
Advancers pummeled decliners to keep market breadth positive, 127 to 68, while 50 issues were unchanged.
SM Prime was the top traded company, rising by 7.22 percent to P26 per share, followed by ICTSI with a three-percent jump to P378.
Monde Nissin recorded the biggest gain at 8.06 percent, while China Banking Corp. lost the most with 2.17 percent.
