PSEi extends winning streak to six days

MANILA, Philippines – Local stocks extended their winning streak to a sixth straight session on Wednesday as investors continued to accumulate shares despite lingering concerns over rising tensions in the Middle East.

The benchmark Philippine Stock Exchange Index (PSEi) gained 28.66 points, or 0.46 percent, to close at 6,275.77.

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Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi gained for a sixth straight trading day and has now advanced in nine of the last 10 sessions.

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“The benchmark index rose 28.66 points, finishing at its highest closing level in more than four months, or since March 6, 2026. This follows the correction from its recent high of 6,396.23 posted on June 16, 2026,” Ricafort said.

Luis Limlingan, head of sales at Regina Capital Development Corp., said buying momentum remained intact throughout most of the session, although geopolitical risks kept investors from becoming overly aggressive.

“The local bourse ended higher as buying momentum persisted, extending its winning streak to a sixth consecutive session,” Limlingan said.

Tempered optimism

He noted, however, that increasing tensions in the Middle East tempered gains, resulting in cautious trading during the day.

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Some investors also locked in profits during afternoon trading, cutting the market’s earlier advance. Even so, the PSEi managed to finish in positive territory.

Market breadth remained negative despite the index’s gain, with 80 advancers and 98 decliners.

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Trading activity was likewise moderate. Total value turnover reached P5.08 billion, while net turnover, excluding extraordinary block sales, stood at about P4.7 billion.

Among actively traded stocks, Robinsons Retail Holdings Inc. emerged as the session’s top gainer, surging 50 percent to P66.75 after adding P22.25.

The stock has recently been in focus following the successful tender offer by JE Holdings Inc., paving the way for the retailer’s planned delisting from the Philippine Stock Exchange.

READ: RRHI set for delisting after successful tender offer

On the losing side, Alliance Select Foods International Inc. dropped 22.39 percent to P0.26, shedding 7.5 centavos to finish as the market’s biggest decliner.

Analysts said the session reflected a market balancing optimism from sustained buying interest against uncertainty brought about by global geopolitical developments.

While investors continued to support select stocks, caution remained evident as traders followed developments abroad and opted to secure gains later in the session.

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The PSEi’s latest advance extends the local market’s recent recovery, although analysts expect external developments, particularly those affecting global risk sentiment, to continue influencing trading in the near term. /pai INQ