MANILA – Philippine financial markets rebounded as temporary easing of tensions in the Middle East lifted investor sentiment.

The Philippine Stock Exchange index (PSEi) rose 0.63 percent to 5,936.20 points, while the broader All Shares index increased by 0.57 percent to 3,295.23 points.

“The Philippine market rebounded after the previous session’s sharp sell-off, supported by improved sentiment following (US) Donald Trump’s remarks about delaying the potential attack on Iran’s power plants. This temporary easing of geopolitical tensions helped lift equities, mirroring gains seen in global markets after the announcement,” said Luis Limlingan, head of sales at Regina Capital Development Corp.

Limlingan cautioned, however, that investors remain watchful as oil prices stay high amid ongoing supply risks and uncertainty in the Middle East.

Among sectoral indices, Mining and Oil led gains with a 3.4 percent increase. The Financials index rose 1.63 percent, Property 1.51 percent, Holding Firms 0.94 percent, and Industrial 0.74 percent. Only the Services index closed lower, down 0.49 percent.

Trading volume was thin at 633.85 million shares worth PHP5.7 billion. Advancers outnumbered decliners 129 to 63, with 59 shares unchanged.

The peso also strengthened, closing at 59.95 against the US dollar, up from Monday’s 60.30. It opened the day at 59.90 and traded between 59.68 and 60.15, with an average rate of 59.92. Total turnover increased to USD2.69 billion from the previous session’s USD1.65 billion.