PSEi up 0.08% for third day; rates cut, tariffs delayed

The Philippine stock market improved on Friday with the PSEi closing 0.08 percent higher at 6,082.44 points, extending gains for three consecutive trading days.

Investors welcomed the Bangko Sentral ng Pilipinas' decision to cut key rates by another 25 basis points to 5.50 percent and US President Donald Trump's delay of reciprocal tariffs worldwide for 90 days with a universal tariff of 10 percent.

The Mining and Oil sector showed the largest increase, up 2.48 percent, while Financials gained 0.63 percent; Property, Industrial, Holding Firms, and Services sectors declined slightly.

Despite positive market trends, the PSEi lost 192.24 points or 2.64 percent since Trump announced new tariff orders on April 2.

The Philippine peso also strengthened to close at 56.97 against the US dollar, reflecting stable currency conditions amidst improving market trends.