PSEi surges past 6,000 as US-Iran peace talks fuel investor optimism

The local stock barometer regained its strength on Thursday, climbing back above the 6,000 level, amid investors’ optimism that the US and Iran could reach a peace deal ending the Middle East fuel crisis.

The Philippine Stock Exchange index (PSEi) gained 67.06 points or 1.12% to close at 6,034.27.

“The PSEi ended higher as investors tracked gains in global markets amid easing tensions in the Middle East,” said Regina Capital head of sales Luis Limlingan.

Rizal Commercial Banking Corp. chief economist Michael Ricafort said the PSEi gained after global crude oil prices again declined to near two-week lows at $93 per barrel, thanks to “market optimism that the US and Iran could be nearing a deal to end the war, as US President Donald Trump signaled that the war could be over within a week or before his visit to Beijing on May 14, 2026.”

Limlingan, however, said gains were tempered after the country’s gross domestic growth came in below expectations, “prompting cautious positioning toward the close.”

The country’s gross domestic product (GDP) slowed down to 2.8% in the first quarter of 2026 from 3% in the last quarter of 2025 – its slowest footing since the first quarter of 2021, when it contracted by 3.8% during the COVID-19 pandemic lockdowns.

More than 892.03 million shares valued at P7.918 billion were traded. Gainers led losers, 125 to 83, and 53 issues were unchanged. –NB, GMA News