Stocks surge on rate cut hopes

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January 13, 2026 | 12:00am

MANILA, Philippines — The local stock market soared past the 6,400 mark, buoyed by expectations of an upcoming rate cut by the Bangko Sentral ng Pilipinas.

The benchmark Philippine Stock Exchange index surged by 1.13 percent or 71.82 points to cap off yesterday’s session at 6,419.96.

The broader All Shares index also advanced by 0.95 percent or 34.13 points, settling at 3,641.13.

“Philippine equities have officially risen back to index levels seen prior to the flood control fiasco, driven by the dovish tone sang by the BSP chief, hinting a high chance of a 25-basis-point cut this upcoming February meeting,” AP Securities Inc. said.

Luis Limlingan of Regina Capital said the market’s strong performance was supported by sustained buying momentum throughout the session.

“Market sentiment further improved following Nomura’s forecast that the BSP could possibly deliver 25 bps rate cuts in both February and April. Expectations of a more accommodative policy stance further encouraged risk-taking among investors,” Limlingan said.

All sectoral gauges were in the green, led by mining and oil which skyrocketed by 5.01 percent.

Advancers squashed decliners, 142 to 80, while 53 issues were unchanged.

Total value turnover opened the week at P6.64 billion.

ICTSI was the session’s top traded stock, improving by 0.16 percent to P626 per share, followed by BDO Unibank which climbed by 2.44 percent to P142.50 and DigiPlus which plunged by 4.29 percent to P15.60.