Philippine stocks climb 0.94% on optimism over May inflation rates

On Tuesday, Philippine stocks continued to climb for a second straight day as investors remained optimistic about May inflation rates staying below the government's target range.

The benchmark Philippine Stock Exchange Index (PSEi) ended the day up by 0.94 percent at 6,412.86 points, while the broader All Shares Index rose by 0.73 percent to 3,770.95 points.

Foreign inflows totaling P168.83 million contributed to gains but were tempered by concerns over US President Donald Trump's plan to double steel and aluminum import tariffs and hopes of a productive talk between him and Chinese leader Xi Jinping this week.

International Container Terminal Services Inc. led the top traded stocks with a 0.73 percent increase, followed by several other companies including Bloomberry Resorts Corp., Ayala Land Inc., Bank of the Philippine Islands, SM Prime Holdings Inc., and BDO Unibank Inc.

Philippine Statistics Authority is scheduled to release May inflation data on Thursday (June 5), which could influence price action movements this week.