MANILA – The Philippine Stock Exchange index (PSEi) ended the shortened trading week on a high note, buoyed by a strong peso and growing investor optimism for potential monetary policy easing in the United States.
The PSEi gained 0.89 percent to close at 6,961.96, while the All Shares index rose by 0.68 percent to 3,749.73. Notably, four key sectors saw positive growth: Financials (+2.52 percent), Holding Firms (+0.73 percent), Services (+0.72 percent), and Industrial (+0.32 percent). In contrast, the Property and Mining and Oil sub-indices experienced slight declines of 0.67 percent and 0.06 percent, respectively.
“Local shares wrapped up the week in the green after the Federal Reserve’s July meeting minutes suggested a potential rate cut in September, boosting investor confidence,” said Luis Limlingan, head of sales at Regina Capital Development Corp. “The anticipation of easing monetary policy, if economic data aligns with expectations, has raised hopes for lower interest rates. All eyes are now on Fed Chair Jerome Powell’s upcoming speech at the Jackson Hole Economic Symposium, which could provide further insights into the Fed’s next moves.”
The trading week ended with 117 gainers outpacing 80 losers, while 43 stocks remained unchanged.
Meanwhile, the Philippine peso strengthened to 56.33 against the US dollar, slightly improving from Wednesday’s 56.50 close. The local currency traded within a narrow range of 56.28 to 56.38, with the day’s average settling at 56.33. Trading volume also increased slightly to USD1.59 billion, up by USD1 million from the previous day.
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