The Daily Tribune
PSEi climbs for second day on inflation optimism
The Philippine Stock Exchange index (PSEi) climbed for a second consecutive day on Tuesday, closing at 6,433.60, near six-month highs.
This rise was driven by optimism that the Bangko Sentral ng Pilipinas (BSP) will maintain a dovish policy stance following softer-than-expected June inflation data.
Investors also seemed to downplay the near-term impact of US tariff threats set to take effect on August 1.
The market's strength was further boosted by favorable local economic reports on employment, manufacturing, bank lending, and gross international reserves.
Additionally, the recently implemented Capital Market Efficiency Promotion Act (CMEPA), which reduced stock transaction taxes, is attracting more local and foreign investors.
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