MANILA – Local stocks gained ground in Wednesday’s trading, while the Philippine peso remained largely unchanged.
The Philippine Stock Exchange index (PSEi) rose by 1.33 percent, closing at 6,144.96, while All Shares increased by 0.77 percent to 3,668.41 points.
“Philippine shares gained momentum, nearing the 6200 mark, amid growing signs of strengthened foreign relations with the United States,” said Luis Limlingan, head of sales at Regina Capital Development Corp. “Positive news that the Trump administration exempted the Philippines from its freeze on foreign aid contributed to the market’s optimism, especially as other regional markets struggled.”
Among sector indices, only Mining and Oil saw a decline, dropping 1.51 percent to 8,076.36.
Financials led the gains, rising by 1.57 percent, followed by Property (up 1.45 percent), Industrial (up 1.29 percent), Holding Firms (up 1.22 percent), and Services (up 0.33 percent). Advancers outnumbered decliners 93 to 85, with 60 stocks unchanged.
Meanwhile, the peso closed flat at 57.88 to the US dollar, slightly down from the previous day’s 57.93. It traded between 57.86 and 57.92, averaging 57.88. Trading volume decreased to USD 1.09 billion from Tuesday’s USD 1.38 billion.
ia/mnm
