Stocks, peso gain as Mideast war may end ‘very soon’

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April 2, 2026 | 12:00am

MANILA, Philippines — The local stock market sustained its positive momentum and the peso bounced back from an all-time low before heading to a Holy Week break, buoyed by some positive news regarding the ongoing The benchmark Philippine Stock

Exchange index (PSEi) rose for a second straight session, climbing by 0.84 percent or 49.74 points to 5,998.68war in Iran.

T broader All Shares index also settled in the positive territory at 3,353.60, up by 0.59 percent or 19.68 points.

Luis Limlingan of Regina Capital said the PSEi extended its rebound on improving sentiment, driven by hopes.                                                                                                                                                                            

If a potential US de-escalation in Iran within the next two to three weeks, which could ease external concerns.

“The local bourse tracked Wall Street and regional gains before the start of the long weekend, as Trump announced that the US’ war with Iran will end within two to three weeks,”

AP Securities Inc. said in its report.

Limlingan, however, said gains remained modest as elevated oil prices continue to pose inflationary risks, keeping investor sentiment cautious amid lingering geopolitical uncertainty.

All sectors were in the green, ex- cept for industrial, which tumbled by 1.38 percent. Mining and oil led the charge with a 6.37-percent surge, followed by holding firms, which advanced by 2.07 percent

Total value turnover was trimmed slightly to P7.97 billion from the pre- vious day’s P9.82 billion.

Market breadth was positive as advancers pummeled decliners, 112 to 87, while 55 issues were un- changed.

Data from the Bankers Associa- tion of the Philippines showed the peso settled at 60.16 per dollar yes- terday, appreciating by 58.8 centavos from Tuesday’s record low of 60.748.

The local currency traded between 60.5 and 60.1 during the session.

Markets are closed today, Maundy Thursday, and tomorrow, Good Friday. Trading will resume on Monday.