PSE Index Cheers Government Link-Up with Iran

The Philippine Stock Exchange (PSE) index gained ground on renewed optimism over potential Philippine-bound crude oil shipments transiting through the Strait of Hormuz, following talks with Iranian Ambassador Yousef Esmaeilzadeh.

The Philippine Stock Exchange (PSE) Index, April 1, 2026

With the Philippines maintaining about 90 days’ worth of crude oil supply—higher than many ASEAN peers—the PSE index surged to an intraday high of 6,057.97 points before succumbing to profit-taking to close at its intraday low of 5,998.68 points, still up 49.74 points or 0.84%.

All sectors posted gains except industrials, which declined by 1.38% due to losses in Meralco.

Conglomerates led the advance, with market bellwether SM Investments rising 2.10% to ₱633.

Mining stocks also rallied, gaining 6.37%, with copper-gold producer Atlas Mining emerging as the top gainer, climbing 16.53% to ₱7.19.

With President Ferdinand Marcos Jr. exploring options to boost oil inventories, the market latched onto optimism despite continued rhetoric and exchanges between the Israel-US coalition and Iran.

Petron’s order of 2.5 million barrels of Russian oil, along with government efforts to secure Iranian supply, was welcomed by investors.

Value turnover was 30% above average at ₱7.9 billion, while market breadth remained positive, with 112 gainers against 87 decliners and 55 unchanged issues.

Foreign investors, however, remained net sellers, unloading ₱1.19 billion out of total foreign trades amounting to ₱9.6 billion, as investors positioned on both sides of the market.

With the local market set to close for the Holy Week holidays, attention will shift to developments in the Strait of Hormuz—the critical waterway whose disruption has pushed oil prices above $100 per barrel.