Philippine stock market closes higher, up 0.52%

The Philippine stock market closed higher this Friday, adding 31.41 points or 0.52 percent to end at 6,098.04.

Property stocks led the gains while banks saw a slight dip, with overall volume decreasing to 1.65 billion shares worth ₱4.44 billion.

Regina Capital Development Corporation's Luis Limlingan noted that investors' cautious optimism is influenced by the Federal Reserve’s latest minutes, which highlight risks from US trade and immigration policies.

Philstocks Financial Research Manager Japhet Tantiangco attributed the market recovery to positive expectations for fourth quarter corporate results and the strengthening of the Philippine peso against the US dollar.

Despite two record highs in the S&P 500, concerns about consumer spending due to Walmart's weak forecast and a decline in the Conference Board's Leading Economic Index weighed on US stocks.