MANILA – The Philippine Stock Exchange index (PSEi) extended its winning streak for a third consecutive session on Wednesday, rising 1.08% to close at 6,247.68. The broader All Shares index also gained 0.74% to settle at 3,705.12.
Among sectoral indices, only Industrials declined (-0.38%), while Financials led gains with a 2.86% surge. Other advancing sectors included Mining and Oil (+1.58%), Services (+1.20%), Property (+0.47%), and Holding Firms (+0.39%). Market breadth was positive, with 110 advancers outpacing 82 decliners, while 54 stocks remained unchanged.
“The market rose further amid expectations that March inflation remained cool, providing the Bangko Sentral ng Pilipinas (BSP) more room to cut policy rates this April,” said Japhet Tantiangco, research manager at Philstocks Financial.
Despite the rally, trading remained subdued with net value turnover at PHP5.07 billion, falling below the year-to-date average of PHP5.30 billion. Foreign investors were net sellers, recording PHP259.87 million in outflows.
Meanwhile, the peso remained unchanged at 57.21 against the US dollar, following Tuesday’s holiday break. The local currency opened at 57.20, fluctuated between 57.15 and 57.25, and averaged 57.22 for the day.
Total trade volume reached USD1.07 billion, down from Monday’s USD1.18 billion.
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