PH stocks index regains footing, peso ends flat vs. USD

PH stocks index regains footing, peso ends flat vs. USD

MANILA – The Philippine Stock Exchange index (PSEi) ended Tuesday up after a two-day slide while the peso finished flat against the US dollar.

PSEi gained 1.04 percent, or 59.58 points, to 5,775.50 points.

All Shares rose by 0.84 percent, or 28.51 points, to 3,426.97 points.

Mining and Oil led the sectoral indices with a jump of 4.03 percent.

It was trailed by the Industrial, 1.69 percent; Services, 1.47 percent; Financials, 1.21 percent; Property, 1.04 percent; and Holding Firms, 0.57 percent.

Volume totaled to 1.59 billion shares amounting to PHP5.74 billion.

Gainers led losers at 136 to 52 shares while 46 shares were unchanged.

“Investors became bargain hunters in the PSEi following the huge sell-off yesterday as many embrace for big week for corporate earnings, boosted by positive manufacturing data out of the euro zone, and leads from the US Technology sector,” said Luis Limlingan, Regina Capital Development Corporation head of sales.

Reimposition of the 15-day modified enhanced community quarantine (MECQ) in the National Capital Region (NCR), Bulacan, Laguna, Cavite, and Batangas starting Tuesday is still among the factors during the trading in the local bourse but Limlingan said “most of the reaction probably was felt yesterday”.

On the other hand, the local currency finished the day’s trading at 49.095 to a US dollar, the same as Monday’s close.

It opened the day at 49.12, sideways from its 49.15 start in the previous session.

It traded between 49.14 and 49.095, resulting to an average of 48.114.

Volume totaled to USD470.35 million, lower than the previous session’s USD568.65 million. PNA – northboundasia.com