Philippine stocks rallied for a second straight session on Thursday as bargain hunters returned, encouraged by a sharp drop in global oil prices and the Democratic Party's sweeping victory in the US midterm elections.
Filipino stock investors could soon have more than the usual banks, property giants and conglomerates to choose from as a new wave of companies prepares to enter the Philippine Stock Exchange (PSE).
Stock brokerage house Unicapital Securities has slashed its Philippine Stock Exchange index year-end 2025 target to 7,100, citing slower corporate earnings and global trade risks.
Despite global uncertainties, the country is expected to remain one of Southeast Asia’s fastest-growing economies, according to officials of the financial firm.
Capital inflows to the Philippines could keep the country’s stock benchmark index (PSEi) above 7,000, driven by easing monetary policy, according to a report by Unicapital Securities.