The Philippine Stock Exchange index (PSEi) closed higher on Monday, reversing last week’s decline, while the peso ended flat against the US dollar.
The main index rose 0.24 percent to 6,052.33 points, though the broader All Shares index fell 0.08 percent. Most sectoral indices declined: Industrial by 1.22 percent, Property by 0.43 percent, Holding Firms by 0.20 percent, and Financials by 0.11 percent. Mining and Oil gained 2.29 percent, and Services rose 2.01 percent.
Trading volume reached 1.96 billion shares worth PHP4.92 billion. Decliners outnumbered advancers 121 to 76, with 52 stocks unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, attributed the PSEi’s performance to resilience amid global pressures. “The index’s resilience was likely driven by bargain hunting, while investor sentiment was further lifted by the appreciation of the Philippine peso against the US dollar,” he said in a market report. He added that the index “opened the week in positive territory despite persistent trade uncertainties between the US and China that weighed on global markets.”
The peso closed at 58.245 from 58.24 on Friday, opening at 58.22. It traded between 58.12 and 58.26, averaging 58.19, with volume rising to nearly USD1.66 billion from USD1.41 billion last week.Copy message