PSEi up 1.33% on positive US ties, corporate earnings

The Philippine Stock Exchange index (PSEi) rallied on Wednesday, Feb. 26, closing at 6,144.96, up by 80.80 points or 1.33 percent.

Banks led the advance while Miners fell, with volume slightly lower at 467 million shares worth P5.31 billion and gainers outnumbering losers 93 to 85.

Regina Capital Development Corporation Managing Director Luis Limlingan noted that positive foreign relations between the Philippines and the US contributed to market gains, citing the Trump administration's exemption of the Philippines from its freeze on foreign aid as a positive sign.

Chinabank Capital Corporation Managing Director Juan Paolo Colet highlighted generally positive corporate earnings results and technical indicators suggesting a potential rally towards key resistances at 6,300 and 6,600.

Philstocks Assistant Research Manager Claire Alviar added that foreign investors also supported the market with a net inflow of ₱166.13 million.