Philippine stocks hit four-month high after midterm elections, US-China trade truce

Philippine stocks rallied on Tuesday following the May 12 midterm elections and easing US-China trade tensions.

The Philippine Stock Exchange Index (PSEi) rose by 1.68% to close at 6,566.82, hitting a new four-month high since January 9, 2025.

Investor sentiment was boosted by the generally peaceful conduct of the midterm elections and positive surprises in Senate voting results.

The market's rally was further fueled by the US and China agreeing to pause their tariff war for 90 days.

Sectoral indices saw a broad rally, with Services firms leading gains as ICTSI surged by 5.71%.