MANILA – Philippine shares saw a slight uptick on Monday ahead of the upcoming release of February 2025 inflation data, while the peso remained stable.
The Philippine Stock Exchange Index (PSEi) gained 0.65%, closing at 6,037.19, while the All Shares index rose by 0.89% to 3,620.12.
“Philippine stocks posted modest gains, reflecting the sentiment in regional markets, particularly after the conclusion of the quarterly MSCI rebalancing last week,” said Luis Limlingan, head of sales at Regina Capital Development Corp.
He also noted that key US economic data this week includes February’s jobs report, due Friday, which may indicate weaker hiring and potential job cuts in the public sector, according to the PMI (Purchasing Managers Index).
“Domestically, the focus is on the CPI (Consumer Price Index) release on March 5, alongside other key data points including the S&P Global Manufacturing PMI (March 3), PPI (March 4), Unemployment Rate (March 6), and GIR level (March 7),” Limlingan added.
Except for the Industrial and Services sectors, all other sectors ended in the green, with Holding Firms leading the way, up by 2.90%.
Overall, market losers outnumbered gainers, 120 to 75.
Meanwhile, the peso closed at 57.90 to the dollar on Monday, slightly down from Friday’s 57.99. The peso opened at 57.98, fluctuating between 57.88 and 57.98, with a weighted average of 57.92.
Trading volume dropped to USD 1.06 billion from USD 1.19 billion in the previous session.
IA/MNM
