PSEi surges past 6,500 for first time in two months

The Philippine Stock Exchange Index (PSEi) surpassed the 6,500 mark for the first time in two months on Wednesday as investors continued to react positively to the delayed implementation of higher tariffs.

By the end of trading, the PSEi rallied by 1.1 percent or 70.74 points, closing at 6,504.34, its highest value since May 14.

The All Shares Index also climbed by 0.88 percent to reach 3,817.62.

Total volume of traded shares amounted to 1.41 billion worth P7.8 billion.

Michael Ricafort from Rizal Commercial Banking Corp. attributed the market's strong performance to President Trump’s decision to delay tariffs until Aug. 1 and his openness to trade talks.

DigiPlus Interactive Corp., a top-traded stock, saw its share price surge by 5.64 percent to close at P36.50 per share.