PSEi climbs to 5,700 level despite hotter inflation print

Philippine shares climbed on Thursday, shrugging off the country’s faster-than-expected inflation in October, which reached its highest level in nearly four years and strengthened expectations of further monetary tightening by the Bangko Sentral ng Pilipinas (BSP).

The benchmark Philippine Stock Exchange index (PSEi) gained 1.5 percent to close above the 5,700 level.

The local market’s performance came amid mixed trading across Asia, as investors shifted positions following the results of the U.S. midterm elections.

The MSCI Asia-Pacific index was largely unchanged, with South Korean chipmakers Samsung Electronics and SK Hynix among the decliners on concerns over tighter regulations on artificial intelligence data centers following the Democrats’ midterm election sweep.

Meanwhile, previously underperforming markets, including China and Australia, gained ground.

Anne Ong, institutional equity sales representative at COL Financial, said the higher inflation reading was largely anticipated, noting that the BSP had already signaled that price pressures could increase.

She added that declining oil prices could help inflation show signs of peaking in the coming months. Ong also attributed much of the local market’s rally to a recovery in beaten-down consumer stocks, including SM.

In corporate developments, Ayala Land reported a resilient financial performance for the first nine months of the year, posting a net income of 17.5 billion pesos and revenues of 109 billion pesos.

The property developer recorded 77 billion pesos in sales reservations, alongside growth in its leasing and hospitality businesses, partly driven by higher earnings from its malls and offices.

Capital expenditures, however, declined to 53 billion pesos as the company acknowledged challenges during the nine-month period. Ayala Land said it remains committed to strengthening its balance sheet while sustaining returns.

Meanwhile, GT Capital’s banking arm, Metropolitan Bank and Trust Company, or Metrobank, posted 36 billion pesos in net income for the same period.

The lender attributed its performance to double-digit loan growth, improved margins and healthy fee income despite a challenging economic environment.

Metrobank’s total assets reached 3.7 trillion pesos, while its total equity rose to 410 billion pesos.

China Banking Corporation also reported stronger earnings, with net income increasing 12 percent to 22.6 billion pesos in the January-to-September period.

The bank posted a return on equity of 15.6 percent, supported by the steady expansion of its core businesses and an improved net interest margin.

Its total assets grew to 1.9 trillion pesos as of end-September.

In the utilities sector, Maynilad Water Services recorded a 3.5-percent increase in nine-month revenues to 28.6 billion pesos.

The company attributed the growth to higher billed water volumes, continued customer expansion and rate adjustments approved by the Metropolitan Waterworks and Sewerage System.

Maynilad’s capital expenditures also increased to 19.5 billion pesos.

Finally, food manufacturer Century Pacific Food reported a 14-percent increase in revenues to 70 billion pesos despite persistent economic headwinds.

The company said its branded and original equipment manufacturing (OEM) segments supported its performance, helping drive consolidated sales up 12 percent year on year. – ANC, The World Tonight, November 5, 2026