In Manila, the consistent inflation rate recorded in January bolstered investor confidence, leading to a positive performance in both the Philippine Stock Exchange and the local currency on Wednesday. The Philippine Stock Exchange index (PSEi) saw a significant rise of 3.15 percent, closing at 6,281.08, while the All Shares index also advanced by 2.18 percent to 3,696.66. Luis Limlingan, head of sales at Regina Capital Development Corp., noted that the recent consumer price index (CPI) figures, which met analysts’ expectations, provided the Bangko Sentral ng Pilipinas (BSP) with more flexibility in deciding when to adjust interest rates. The Philippine Statistics Authority (PSA) confirmed that January’s inflation rate remained steady at 2.9 percent, unchanged from December 2024. Additionally, positive developments in global trade contributed to the upbeat mood on Wall Street, further enhancing local market sentiment. All sectors of the PSEi ended the day in the green, with the Property sector leading the gains at 4.81 percent, closing at 2,405.82. Other sectors also saw increases: Holding Firms up by 4.09 percent to 5,216.62, Industrial up by 2.53 percent to 8,667.06, Mining and Oil up by 2.39 percent to 7,328.26, Services up by 2.19 percent to 2,059.16, and Financials up by 1.69 percent to 2,304.88. The number of stocks that gained was 127, compared to 68 that lost value, with 50 remaining unchanged. On the currency front, the Philippine peso strengthened, ending the day at 58.10 against the US dollar, a gain of 0.24 from the previous day’s close of 58.34. The peso started the day at 58.05, a 0.40 improvement from Tuesday’s opening of 58.45, and fluctuated between 57.98 and 58.14, averaging 58.07 against the dollar. However, trading volume decreased to USD1.82 billion from USD2.13 billion the previous day.
January’s Steady Inflation Boosts Philippine Stock Market and Peso
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