PSEi recovers 6,400 mark on slower inflation

The Philippine Stock Exchange Index (PSEi) recovered the 6,400 mark, closing at 6,418.69, a 0.93 percent gain, driven by positive investor sentiment from a slower April inflation rate and strong corporate earnings.

April's inflation rate slowed to 1.4 percent, the lowest in nearly 5.5 years since November 2019, primarily due to moderating oil and food prices, as well as reduced transportation costs.

This benign inflation provides leeway for potential monetary easing, with a 0.25 basis point rate cut as early as the next local rate-setting meeting on June 19, 2025, being a possibility.

All counters were in the green, except for financials, which slipped by 0.17 percent.

Services as well as mining and oil indexes were the biggest winners, surging by 3.52 percent and 2.63 percent, respectively.

The Services sector was notably boosted by a substantial rally in International Container Terminal Services Inc. (ICTSI), which surged by 6.11 percent.