PSEi closes at 6,504.34, highest in nearly two months

The Philippine Stock Exchange index (PSEi) advanced by 70.74 points or 1.1 percent to close at 6,504.34 on Wednesday, marking its highest close in nearly two months.

The index extended its winning streak for a third consecutive session, recovering from an intraday low of 6,438.62.

Upbeat local economic data and improved investor sentiment bolstered the market's performance.

Analysts attribute the climb to signs of economic resilience and the Philippines' relative insulation from potential fallout over new U.S. tariffs.

Michael Ricafort of Rizal Commercial Banking Corporation noted that Philippine goods exports are lower compared to other ASEAN economies, making the local economy more resilient.

He further explained that the country's growth is primarily supported by robust consumer spending, OFW remittances, BPO revenues, and tourism receipts, which are less affected by external tariff shocks.