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The PSEi only made a small gain even after the US Federal Reserve gave a clearer target for its rate cuts this year.
The main index added 10.01 points or 0.16 percent to close at 6,323.13 as the Mining sector surged on higher gold prices while Banks retreated. Volume declined to 1.06 billion shares worth P5.6 billion as gainers edged out losers 103 to 98 with 44 unchanged.
“Philippine shares made modest gains ahead of the FTSE rebalancing and after the Federal Reserve reaffirmed its outlook for two rate cuts in 2025, keeping rates at 4.25 percent to 4.5 percent despite expectations of higher inflation and slower growth,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Fed Chair Jerome Powell downplayed the inflationary impact of tariffs, calling it transitory.
Markets also monitored Donald Trump’s tariff policies, with a temporary reprieve on Canadian and Mexican imports set to expire on April 2.
