PSEi rebounds on positive investor sentiment

The Philippine Stock Exchange Index (PSEi) rebounded to close at 6,458.2 points, a 1.08 percent increase, driven by positive investor sentiment following progress on the US-UK trade deal.

This surge helped the PSEi recover from a previous decline attributed to disappointing first-quarter economic growth figures.

Foreign investors contributed to the market's rise with net inflows of P463.78 million, and net value turnover expanded to P7.54 billion.

Analysts noted optimism about the US-UK trade deal, while hopes for monetary policy easing by the Bangko Sentral ng Pilipinas also fueled positive sentiment.

All stock market sectors were positive except for mining and oil, with holding firms leading the gains.

The broader All Shares index also rose by 0.6 percent to 3,762.85, and market breadth was positive with more advancers than decliners.