Manila: Bargain-hunting lifted the Philippine Stock Exchange index (PSEi) on Wednesday, while the peso strengthened against the US dollar. The main stocks index inched up 0.18 percent to 5,963.77 points, and the All Shares by 0.44 percent to 3,605.21 points. Most sectoral indices ended in the green, led by Mining and Oil, up by 3.29 percent and was followed by the Industrial, 1.39 percent; Holding Firms, 0.78 percent; and Financials, 0.56 percent. On the other hand, Property fell 0.78 percent and Services, 0.63 percent. Advancers led decliners at 110 to 74 while 61 shares were unchanged.
According to Philippines News Agency, the Philippine market ended higher as traders took advantage of the cheaper prices. Moreover, the PHP (Philippine peso) noticeably appreciated against the USD (U.S. dollar), returning to the 58 level, Luis Limlingan, Regina Capital Development Corporation head of sales, said. Traders are also likely pricing in the expected rate cut from the Fed (Federal Reserve) this week, he added, referring to the meeting of the Federal Reserve’s Federal Open Market Committee (FOMC) set October 28-29, 2025.
The local currency improved to 58.69 against the U.S. dollar after depreciating to 59.13 a day ago. It opened the day weaker at 59.15 from day-ago’s 58.9 start. It traded between 59.26 and 58.65, bringing the day’s average to 59.003. Volume rose to USD2.01 billion from day-ago’s USD1.75 billion.
