The PSEi, which fell to a 30-month low on Monday amid deepening concerns over US President Trump’s sweeping tariffs, rallied 3.15 percent, or 183.49 points, to 6,006.34 while the broader All Shares index rose 2.46 percent, or 86.03 points, to 3,582.80.
The relief rally was led by large caps such as BDO (+6 percent to P158), ICTSI (+8.75 percent to P348), Jollibee (+7 percent to P217.20).
A total of P6.3 billion worth of shares changed hands, while foreigners remained net sellers to the tune of P427.75 million.
Technical bounce?
COL Financial Group chief technical analyst Juanis Barredo said Tuesday’s performance appeared to be more of a technical rebound, driven by chart-based indicators after the previous day’s sharp fall.
“I would treat it as a technical rebound buoyed by US futures rallying,” he told InsiderPH.
For now, he sees limited upside for the PSEi, capped between 6,060 and 6,140.
With the market closed for a holiday tomorrow, the PSE may also miss out on any potential momentum before more volatility from international developments arises.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
