Cautious optimism in Philippine stocks

FOR investors, positioning for a rebound in the Philippine equity market will require patience, selectivity and a bias towards defensiveness and consumer resilience. A pick-up in earnings momentum is expected later in the year – but for now, Maybank Investment Bank Group Research (Maybank IB) suggests investors remain cautiously optimistic.

The investment banking group notes that the first-quarter (1Q25) reporting season ended on a muted note, with PSE Index constituents delivering 4.3% year-on-year (y-o-y) earnings growth – a figure that falls short of its full-year expectation of around +10%.