Phl stocks rebound, peso strengthens on easing tariff tensions

Philippine shares rallied on Friday, recovering losses triggered by former U.S. President Donald Trump’s reciprocal tariff announcement earlier this month. The local currency also extended its gains against the U.S. dollar.

The Philippine Stock Exchange index (PSEi) surged by 1.79 percent to close at 6,268.75, while the broader All Shares index climbed 1.02 percent to 3,695.69.

According to Rizal Commercial Banking Corp. chief economist Michael Ricafort, Friday’s close marks a one-month high for the main index, last seen on March 20, 2025.

“This is after positive signals recently from China and Trump on lowering of their import tariffs at 125 percent and 145 percent, respectively,” he said.

All sectoral indices ended the week in positive territory, except for Mining and Oil, which slipped by 0.72 percent. Leading the gains were Holding Firms with a 2.31 percent rise, followed by Property (1.83 percent), Services (1.50 percent), Industrial (1.24 percent), and Financials (0.92 percent).

Market breadth was positive, with 117 gainers edging out 79 losers, while 45 issues were unchanged. Total volume reached 1.42 billion shares, valued at PHP6.74 billion.

On the currency front, the peso appreciated further, closing at 56.26 against the U.S. dollar from 56.55 in the previous session. The local unit opened stronger at 56.38 and traded between 56.23 and 56.43, for an average of 56.35.

Trading volume in the foreign exchange market rose to USD1.85 billion from Thursday’s USD1.44 billion, reflecting increased investor confidence as global trade tensions showed signs of easing.