PSEi reclaims 6,300 level on bargain hunting and easing Mideast tensions

The Philippine Stock Exchange index gained 0.54 percent or 33.89 points to close at 6,314.90, marking a successful return to the 6,300 level after three consecutive failed attempts this month. The broader All Shares index advanced 0.38 percent or 12.89 points to 3,435.37. Sentiment improved as Brent crude fell six percent overnight to around $90 per barrel and as Middle East tensions showed early signs of easing, ending weeks of war-driven unease on the local bourse. The Philippine peso strengthened modestly to 61.71 per dollar from the prior week's record low of 61.85, further lifting imported-earnings stocks. (via Philstar.com)

International Container Terminal Services Inc., the port operator, led the advance with a 5.6 percent pop to help drive the index higher. Globe Telecom, the Ayala telecom unit, climbed 3.8 percent, while BDO Unibank rose 1.1 percent and SM Investments Corp. added 0.7 percent. The quartet of heavyweights anchored the bargain hunt that sent most major sectors into positive territory, though trading remained modest as investors awaited fresh corporate earnings and clearer signals on interest rates from the Bangko Sentral ng Pilipinas.

The Mining and Oil index gained 1.11 percent, with the Services and Financials sectors following at 0.99 and 0.75 percent respectively. The Property index added 0.55 percent, while the Industrial gauge slipped 0.04 percent and Holding Firms declined 0.1 percent. The strength in mining and energy stocks reflected easing commodity prices and relief from geopolitical risk, while weakness in industrial names suggested some caution about demand amid Middle East supply concerns.

Maynilad Water Services Inc., the newly listed metro Manila water distributor, will replace Converge ICT Solutions Inc. in the 30-member Philippine Stock Exchange index following the exchange's latest semiannual review, with the change set to take effect on August 3. Maynilad's "stellar post-IPO share price growth and the demand for its stock allowed the company to easily meet the market cap and liquidity criteria for index membership," PSE President Ramon Monzon said in a statement. The utility only recently went public but has already captured investor enthusiasm; Converge will move into the PSE MidCap index as a new constituent alongside Philex Mining Corp., while Aboitiz Equity Ventures joins the PSE Dividend Yield index. (via Manila Times)

PSE tightens liquidity rules going forward. Future index reviews, starting with January 2027, will apply stiffer criteria emphasizing stock liquidity alongside market capitalization, reflecting the exchange's push to ensure its benchmarks remain tradeable and representative of the market. (via Inquirer Business)

Foreign investors lent quiet support to the day's recovery as the market digested easing oil prices and reduced Middle East jitters, with bargain hunters taking the lead in the buying that propelled the index back above 6,300. Daily turnover remained modest, typical for a market in consolidation mode waiting for clearer catalysts. The shift lower in energy prices and associated currency strength of the peso helped capital flows into stocks that benefit from imported income and lower input costs. (via Philstar.com)

The ASEAN+3 Macroeconomic Research Office revised its 2026 inflation forecast for the Philippines down to 5.7 percent from 6.0 percent, citing easing global commodity prices and swift tightening by the Bangko Sentral ng Pilipinas in containing broader inflationary pressure. The central bank kept its gross domestic product growth outlook at 4.1 percent for this year and 5.5 percent for next, positioning the Philippines as the region's second fastest-growing economy after Vietnam in 2027. Despite the downward revision, inflation remains above the BSP's 2.0–4.0 percent target and the third fastest among ASEAN peers. (via Context.ph)

BSP intervenes to defend peso. The Bangko Sentral ng Pilipinas stepped in with limited intervention to support the currency, which had weakened to near a record low of 61.85 per dollar, as the central bank balanced the need to defend the peso against the risk of depleting foreign exchange reserves amid a strong US dollar. (via Bloomberg)

Petrol retailers including Unioil, Petro Gazz, and Shell Pilipinas raised pump prices by ₱6.80 to ₱7.30 per liter on Tuesday July 28, citing fresh attacks in the Middle East pushing Brent crude higher. Diesel climbed ₱7.30 a liter, gasoline ₱6.80, and kerosene ₱4.20. In Metro Manila, regular diesel prices jumped to ₱98.80 per liter from ₱86.30, while gasoline approached ₱106.50 and kerosene ₱138.30 per liter—sharp moves that ripple through transport, power and manufacturing costs at the same moment the stock market is stabilizing on those very price declines. (via Inquirer Business)