PSE Index Climbs Nearly 2%, but Investor Anxiety Lingers

The Philippine Stock Exchange (PSE) index rose to 5,912.69 on Tuesday, gaining 113.37 points or 1.95 percent. Despite the advance, investor caution remained evident as value turnover was only slightly above average.

The Philippine Stock Exchange (PSE) Index, June 2, 2026

Investors largely focused on beaten-down blue-chip stocks, while conglomerates and financial firms continued to show weakness amid economic uncertainty linked to the Iran crisis, which has pushed inflation above 7 percent and weakened the peso beyond ₱61 against the US dollar.

The financial and holding firm sectors posted modest gains of 0.17 percent and 0.69 percent, respectively.

Market participants concentrated on the services sector, led by International Container Terminal Services Inc. (ICTSI), which surged 6.41 percent to a record high of ₱830 following a company share buyback at ₱780.

Gaming stock Bloomberry Resorts Corp. also jumped 14.04 percent to ₱1.95.

Ayala Corp., however, declined 3.21 percent to ₱416, even as its property unit, Ayala Land Inc., edged up 0.14 percent to ₱14.54.

Economic headwinds have weighed heavily on Ayala Land, whose share price has fallen significantly from levels above ₱30 after the company slowed some luxury property developments and reduced capital expenditures amid prevailing market conditions.

Analysts continue to monitor the ongoing Strait of Hormuz crisis, with concerns that prolonged disruptions could trigger further price increases and slow economic growth.

Value turnover reached ₱6.79 billion, slightly above average. Foreign investors were net buyers of ₱628 million, with total foreign buying reaching ₱3.73 billion.

Despite gains, market bellwether SM Investments Corp. remained below the ₱600 level, which some traders view as a sign of continuing market weakness.

Market breadth was positive, with 98 gainers against 79 losers. However, uncertainty persisted as the benchmark index remained below the key 6,000-point psychological threshold.

Market volatility is expected to continue Wednesday as investors assess developments in the ongoing exchange of rhetoric between the United States and Iran, while peace negotiations remain unresolved and military operations continue.