Stock market extends winning streak

March 7, 2025 | 12:00am

MANILA, Philippines —  The stock market extended its winning streak to a fourth consecutive session yesterday as investors cheered the country’s February inflation slowdown as well as a tariff delay for automakers under the US-Mexico-Canada agreement.

The benchmark Philippine Stock Exchange index surged by 1.60 percent or 98.19 points to finish yesterday’s session at 6,219.96.

Also continuing its winning ways is the broader All Shares index, which climbed by 0.94 percent or 34.56 to 3,699.10.

“The stock market continued to build on the bullish sentiment following Wednesday’s inflation report and was bolstered further by buoyant global markets following Trump’s tariff concessions,” AP Securities research head Alfred Benjamin Garcia said.

“Trump agreed to postpone tariffs for automakers whose vehicles comply with prior US-Mexico-Canada agreements. The White House is also reportedly open to additional tariff exemptions, such as on agricultural imports from Canada and Mexico,” he said.

Trading remained strong with net value turnover of P6.40 billion.

All counters were in the green, led by mining and oil, which surged by 3.58 percent.

Advancers crushed decliners, 108 to 82, while 59 issues were unchanged.

ICTSI was the top gainer among index members with a 5.64-percent jump, while Converge ICT Solutions lost the most, declining by 1.73 percent.

Banking giants BPI and BDO were the top traded stocks, rising by 1.17 percent and 1.37 percent, respectively.