PSEi up ahead of October inflation print
Asian equities slipped on Wednesday as a Democratic sweep in the U.S. elections sent ripples across global markets.
The U.S. dollar declined while Treasury prices rose, amid expectations that a Democrat-led Congress would limit the Trump administration’s tax cuts and spending plans, easing concerns over government borrowing.
In the Philippines, shares moved higher as investors awaited the release of October inflation data on Thursday.
The benchmark Philippine Stock Exchange index climbed 1.3 percent to close just below the 5,700 level.
Luis Limlingan, head of sales at Regina Capital Development Corporation, said local stocks resumed bargain hunting in the afternoon as election results became final. He noted that the Philippines was an outlier in the region, with local sectors less affected by the developments in the United States, while lower spot oil prices also provided a boost.
However, Limlingan cautioned that subdued consumption and elevated inflation could weigh on market sentiment, corporate valuations and earnings, while prolonging expectations of higher interest rates. He said these conditions could also dampen investor appetite for riskier assets such as equities.
Meanwhile, the corporate earnings season continued, with Philippine Airlines reporting a net loss for the first nine months of the year amid higher fuel costs linked to the conflict in the Middle East.
The country’s flag carrier posted a net loss of $159 million from January to September, reversing the 159-million-dollar profit recorded in the same period last year.
Fuel expenses rose to $340 million. Revenues, however, increased by four percent to $2.5 billion.
Philippine Airlines ended September with $888 million in cash and short-term investments.
Monde Nissin, meanwhile, reported a nine-month core net income of P8.3 billion, up 16 percent.
The company also announced a dividend of 26 centavos per share, payable on December 23, just in time for Christmas.
San Miguel Food and Beverage also reported what it described as a resilient performance in the first nine months of the year, despite its gross profit declining to P85 billion.
Sales remained flat at P309 billion as inflation and higher commodity prices continued to strain household budgets.
In another corporate development, the MVP Group completed its acquisition of Bayad Center.
PLDT digital innovation firm Kayana Solutions said it had closed the acquisition of common shares in Bayad Center for P2.7 billion.
The shares were acquired from Meralco and its wholly owned subsidiary, Corporate Information Solutions.
The deal makes Bayad Center a fully owned unit of Kayana Solutions, which is jointly owned by PLDT, Meralco, and Metro Pacific Investments Corporation. – ANC, The World Tonight, November 4, 2026