Shares rise on bargain hunting after 4-day slide

February 13, 2025 | 12:00am

MANILA, Philippines — Investors snatched bargains following a recent slump, snapping the market’s four-day losing streak ahead of the Bangko Sentral ng Pilipinas (BSP)’s policy meeting today.

The benchmark Philippine Stock Exchange index(PSEi) returned above the 6,000 mark, climbing by 0.94 percent or 56.38 points to end at 6,044.13.

The broader All Shares index also finished the session in the positive territory, inching up by 0.34 percent or 12.16 points to 3,619.19.

“Philippine shares closed higher as the latest MSCI rebalancing results reflected the latest inflow and outflow from the quarterly review,” Regina Capital’s Luis Limlingan said.

“The PSEi corrected higher, considered a healthy correction after declining for four straight trading days, a day before the widely expected -0.25 cut in local policy rates from the current 5.75 percent,”  RCBC chief economist Michael Ricafort said separately.

The BSP is widely expected to slash key policy rates by another 25 basis points today as monetary authorities shift focus from inflation control to supporting economic growth.

Net value turnover stood at P5.16 billion, flat from the previous day’s output.

All sectors were in the green, led by holdings firms with a 1.34-percent gain.

However, market breadth stayed negative as decliners crushed advancers, 103 to 74, while 64 issues were unchanged.

ICTSI was yesterday’s most actively traded company, rising by 2.41 percent to P340 per share, followed by BPI which jumped by 2.34 percent to P131.

Monde Nissin posted the biggest gain among index members with a 5.96-percent increase to P8 a piece.