The Philippine Stock Exchange Index (PSEi) climbed 1.82 percent, or 107.97 points, closing at 6,044.17 as investors cheered prospects of a US-Iran agreement.
Sentiment improved after reports that the United States sent a 15-point peace plan to Iran, signaling potential de-escalation of ongoing geopolitical tensions.
Foreign investors returned as net buyers with inflows of PHP224.69 million, ending a 14-day streak of net selling, while all sectoral indices finished positive, led by mining and oil at 4.03 percent gains.
Individual stock movements were mixed, with Century Pacific Food Inc. rising 5.32 percent as the top gainer, while PLDT Inc. fell 2.96 percent.
Analysts cautioned that despite the rally, subdued trading and lingering geopolitical uncertainties suggest investors remain cautious about broader economic impacts.
PSEI REBOUNDS TO 6,000 ON HOPES OF US-IRAN DIPLOMATIC DEAL
Latest from Business
The Civil Aeronautics Board (CAB) lowered the passenger fuel surcharge to Level 12 for Aug. 16
Business name registrations with the DTI rose nearly 9 percent to 769,623 in the first seven
AirAsia Philippines was named the world’s most punctual low-cost airline in July by aviation analyst OAG,
The Bureau of Customs (BOC) has created the Balikbayan and OFW Action Center (BOAC) to address
Cebu Pacific posted a net loss of ₱5.87 billion in the first half of the year,