PSE Index Reclaims 5,700 as Hopes for Middle East Peace Lift Sentiment

The Philippine Stock Exchange (PSE) index recovered above the 5,700-point level on Tuesday, gaining 38.23 points, or 0.67%, to close at 5,716.15 as renewed hopes for a diplomatic resolution to the conflict in the Middle East lifted investor sentiment.

The Philippine Stock Exchange (PSE) Index, November 10, 2026

The Philippine peso also strengthened against the US dollar, trading near the ₱63-per-dollar level, while expectations of lower international oil prices provided additional support to the market.

The Department of Energy announced substantial fuel price reductions effective Nov. 10, including a ₱16.80-per-liter rollback in gasoline prices and cuts of ₱4.10 for diesel and ₱3.70 for kerosene.

The department attributed the decline in international oil prices partly to growing expectations of a diplomatic resolution to the US-Iran conflict and reduced risks to Middle East oil supplies.

Holding firms led the market's gains, advancing 3.12% as investors bought conglomerate shares in anticipation of improved business conditions.

Market bellwether SM Investments Corp. surged, with independent historical trading data indicating a closing price of ₱572.50, up 5.63% from the previous session. Ayala Corp. also advanced 1.36% to ₱557.

Financials edged up 0.16%, although Bank of the Philippine Islands (BPI) declined 0.40%.

Services was the only sectoral index to fall, losing 0.99%, as market favorite International Container Terminal Services Inc. (ICTSI) dropped 1.11% to ₱800. ICTSI was among the day's most actively traded stocks, recording approximately ₱2.72 billion in transactions.

Industrial stocks gained 0.94%, while mining and oil advanced 1.77% and property rose 0.19%.

Meralco, Apex Mining, Philex Mining, Ayala Land, PLDT and Megawide were among the other stocks that posted gains.

Total market turnover reached approximately ₱7.46 billion. Gross foreign transactions amounted to ₱7.61 billion, with foreign buying of ₱3.713 billion and selling of ₱3.897 billion, resulting in net foreign selling of approximately ₱184 million.

Market breadth was positive, with 89 gainers against 83 decliners, while 62 shares ended unchanged.

The market's recovery came as investors welcomed the prospect of reduced geopolitical tensions, lower oil prices and a stronger peso.

However, the sustainability of the rebound will depend on whether diplomatic progress in the Middle East translates into more stable energy markets and improved economic conditions.