Stocks open week higher on US optimism

March 18, 2025 | 12:00am

MANILA, Philippines — Share prices opened the week higher, taking cues from the optimism in the US market.

The benchmark Philippine Stock Exchange index (PSEi) extended its gains to a third consecutive session, increasing by 0.19 percent or 12.08 points to end yesterday’s session at 6,306.19.

The broader All Shares index also finished in the positive territory, inching up by 0.03 percent or 1.22 points to 3,722.82.

“Philippine shares built on the sentiment from Friday, managing to close above the 6,300 level,” Luis Limlingan of Regina Capital said.

Limlingan said that US equities rebounded on Friday as investors were relieved by the absence of new tariff-related headlines.

Locally, sectors were dominated by those in the red, with mining and oil taking the biggest dip at 0.65 percent.

The services index, meanwhile, posted the highest jump at 1.57 percent.

Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi gained for the third straight trading day ahead of talks by US President Donald Trump with Russian President Vladimir Putin on March 18 on possible peace deal with Ukraine.

Net value turnover was thin at P4.81 billion. Foreigners were net buyers with net inflows at P357.25 million.

Market breadth was positive as advancers edged out decliners, 94 to 92, while 59 issues were unchanged.

BDO Unibank was yesterday’s most actively traded stock, plunging by 1.21 percent to P163 per share, followed by ICTSI with a 3.15-percent jump to P393.