Philippine shares climb 3.5% as Trump delays tariffs

Philippine shares rebounded on Tuesday, reaching the 6,000 level as a result of US President Donald Trump's decision to delay tariffs on Canadian and Mexican goods.

The Philippine Stock Exchange index (PSEi) climbed by 3.5 percent or 206.02 points, ending at 6,089.06.

All sectoral indices closed positively, with the Services counter experiencing the biggest gain of 4.76 percent.

Philstock Financials research manager Japhet Tantiangco attributed the market rally to Trump's pause in tariffs and noted strong trading activity with net value turnover at PHP6.93 billion.

The Philippine peso also strengthened on Tuesday, closing at 58.34 to the US dollar from a previous close of 58.66.