Philippine stocks advanced on Monday, pushing the main index back above the 6,300 mark, as easing tensions in the Middle East drove global oil prices lower, according to BusinessWorld. The Philippine Stock Exchange index (PSEi) climbed 0.54% or 33.89 points to close at 6,314.90, while the broader all-shares index also gained.
The market was buoyed by expectations of a de-escalation in the Middle East conflict, which had previously weighed on investor sentiment. A decline in global crude prices eased inflation concerns, particularly for oil-importing economies like the Philippines.
Analysts noted that the uptick reflects renewed confidence in the region, but caution remains over potential volatility amid geopolitical developments. The PSEi's return to the 6,300 range is seen as a positive sign for the local bourse after recent declines.