Manila: Philippine shares further recovered following a series of losing streaks since the United States polls, while the peso closed stronger against the greenback on Monday. The Philippine Stock Exchange index (PSEi) rose by 1.27 percent to 6,761.35, while All Shares went up by 0.71 percent to 3,799.70.
According to Philippines News Agency, Philippine shares continued to rebound after the sell-off last week as investors prepare for a fresh round of economic data. Regina Capital managing director Luis Limlingan noted that on the local front, Goldman Sachs released its most recent market outlook for 2025, placing the Philippines at an overweight rating, a further catalyst for investors to be buying into the market.
Three sectoral indices ended in the positive territory led by Holding Firms, up by 3.59 percent; followed by Property, 1.68 percent; and Financials, by 0.37 percent. The remaining sectors closed in the red, with Mining and Oil experiencing the biggest decline at 1.68 percent; followed by Services
, 0.13 percent; and Industrial, 0.03 percent. Advancers closely edged decliners at 97 to 94, with 62 sectors unchanged.
The peso, meanwhile, closed at 58.68 against the greenback, stronger than last week’s 58.732. It opened at 58.67. The local currency traded between 58.777 and 58.65, bringing the day’s average to 58.707.
