PSEi rises on window dressing, peso ends stronger

MANILA -- Local share prices rose for the third straight day on Thursday aided by month-end window dressing activities, while the peso strengthened against the US dollar.

The benchmark Philippine Stock Exchange index (PSEi) increased 38.80 points or 0.50 percent to 7,836.55.

“It was a combination of early window dressing, and investor seeking refuge from regional markets today in the Philippines,” Regina Capital Managing Director Luis Limlingan said.

Limlingan said local share prices edged higher even as trade tensions between the US and China weighed on stocks outside the country.

At home, trading sentiment was mixed with financials, industrial, and services closed in positive territory.

Property, mining and oil, and holding firms slightly declined.

Total volume of transactions reached 694.77 million shares valued at PHP6.57 billion.

Advancers outpaced decliners, 97 to 80, while 53 issues were unchanged.

Meanwhile, the peso ended the day higher at 52.19 from previous day’s 52.35.

The local unit opened at 52.35 from 52.33 in the previous session.

It traded between 52.155 and 52.37, resulting in an average of 52.257.

Total volume reached USD892.15 million from the previous day’s USD873.2 million. (PNA)

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https://www.pna.gov.ph/articles/1071146
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