The local stock barometer started the week higher as overseas investors continued to worry about China’s real estate developer Evergrande issue, but the peso ended the day sideways against the greenback.
“Philippine shares were traded higher as investors sought refuge from regions being sold down due to the Evergrande debacle,” said Luis Limlingan, Regina Capital Development Corporation head of sales.
Limlingan said among the factors that will play a part in the week’s equities trading include US trade balance data, jobless claims report, and unemployment rate.
He added that onshore factors are the September inflation report and the August industrial production data.
The Philippine Stock Exchange index (PSEi) rose by 0.54 percent, or 37.29 points, to 6,960.89 points.
All Shares inched up by 0.50 percent, or 21.68 points, to 4,348.19 points.
Most of the sectoral indexes tracked the main index with Mining and Oil rising by 2.06 percent; Holding Firms, 1.35 percent; Financials, 0.53 percent; Property, 0.52 percent; and Services, 0.14 percent.
Only the Industrial index finished the day in the negative territory after it fell 0.31 percent.
Volume totaled 955.46 million shares amounting to PHP5.89 billion.
Both the advancers and decliners ended the day at 93, while 55 shares were unchanged.
Meanwhile, the peso ended sideways against the US dollar at 50.7 from 50.79 last Friday.
It opened the day at 50.74, better than its 50.96 start in the previous session.
It traded between 50.815 and 50.68, resulting in an average of 50.744.
The average level for the day stood at 50.744.
Volume totaled USD857.54 million, lower than the USD882.16 million at the end of last week.
Source: Philippines News Agency
