PSE Index Posts Gain on Bargain Hunting

The benchmark PSE (PSE) index closed Friday at 5,961.40, up 40.70 points or 0.69%, as bargain hunting lifted select blue-chip stocks despite investor concerns over the Iran crisis, rising oil prices, inflation, and a weaker peso.

The Philippine Stock Exchange (PSE) Index, May 22, 2026

Five sectors ended higher, led by holding firms, which gained 1.46% as market bellwether SM Investments Corporation recovered to P608, up 1.67%.

Another conglomerate, Ayala Corporation, also rebounded, rising 3.44% to P444.80 after earlier declines linked to concerns over its property arm, Ayala Land, which reportedly paused some developments amid debt concerns.

Ayala Land likewise benefited from bargain hunting, climbing 1.71% to P15.50, or roughly half of its 52-week high of P30.05.

The company reportedly paused a luxury property project and sold a major real estate holding as economic pressures dampened property demand amid a condominium glut.

BDO Unibank and Metropolitan Bank & Trust Company also advanced, rising 0.88% to P115 and 4.76% to P66, respectively, lifting the financial sector by 1.01%.

Industrials gained 0.52%, mining and oil rose 0.70%, and property advanced 0.61%. Services was the lone decliner, edging down 0.02% as International Container Terminal Services, Inc. slipped 0.18% to P815.50.

Investors remained cautious amid developments surrounding the reported blockade of the Strait of Hormuz, which pushed crude oil prices above $100 per barrel, adding pressure on transport costs and inflation.

The peso reportedly weakened to P61.75 against the US dollar, while inflation climbed above 7%, heightening economic uncertainty.

Value turnover remained muted at P4.19 billion, about 30% below average trading volume, as economists revised inflation forecasts for the coming months. Foreign investors remained net sellers, with net foreign selling reaching P172 million, based on P2.297 billion in foreign buying and P2.470 billion in foreign selling.