PSEi up 1.71% on positive inflation data

The Philippine Stock Exchange index (PSEi) rebounded on Tuesday, gaining 1.71 percent or 121.84 points to end the day at 7,257.94, driven by positive inflation data within the government's target range.

All sectoral indices closed higher, with Property leading gains at 3.38 percent and BDO Unibank Inc. being the top-traded stock, climbing 2.97 percent to P156 per share.

Investors showed enthusiasm as property firms saw significant growth, reflecting broader market optimism following the domestic inflation rate of 2.3 percent, which aligns with Bangko Sentral ng Pilipinas forecasts.

Philstocks Financial Inc. data indicated that value turnover was at P4.39 billion, below the year-to-date average of P5.16 billion, but still indicative of investor confidence in local markets.

Despite international factors such as US market declines ahead of the presidential election and potential Federal Reserve key rate reductions, local stocks showed resilience with property firms leading gains.