PSEi up 1.38%, led by financials and holding firms

Local shares rebounded on Friday, January 18, after three days of losses, driven by positive economic forecasts and strong car sales figures.

The Philippine Stock Exchange index (PSEi) rose by 1.38 percent to close at 6,352.12, while the All Shares Index increased by 0.76 percent.

Bargain-hunting lifted the PSEi as investors sought undervalued names across all sectors, with financials and holding firms leading gains of 2.77 percent and 1.12 percent respectively.

Despite decliners edging out gainers by a ratio of 100 to 82, trading volume increased to USD1.59 billion from Wednesday's USD1.37 billion, with active shares including BDO Unibank Inc., SM Investments Corp., and International Container Terminal Services Inc.

The market’s positive performance was bolstered by China’s Q4 GDP growth exceeding expectations and Fitch Solutions' BMI projecting a 6.3% economic growth for the Philippines in 2025, alongside an all-time high in car sales at 467,252 units in 2024.