MANILA: Local shares kicked off the new year with gains, while the Philippine peso showed minimal movement against the US dollar on the first trading day of 2025. The Philippine Stock Exchange index (PSEi) increased by 0.33 percent, closing at 6,550.39, and the All Shares index rose by 0.18 percent to settle at 3,755.10.

According to Philippines News Agency, the positive start in the stock market comes as investors prepare for a full year ahead. Luis Limlingan, head of sales managing director at Regina Capital Development Corp., noted the optimistic opening, highlighting the market’s focus on upcoming economic data releases. Investors are particularly attentive to the December SandP Global Manufacturing PMI, released on January 2, and the November PPI, expected on January 3.

SandP Global’s report on Thursday indicated an improvement in the Philippine manufacturing sector, with the PMI rising to 54.3 in December from 53.8 in November. This uptick signals expansion in the manufacturing industry, potentially bolstering investor confidence.

Financials and Services sectors led the day’s gains, increasing by 0.84 percent and 1.69 percent, respectively. However, other sectors such as Industrial, Holding Firms, Mining and Oil, and Property saw declines. The market saw more losers than gainers, with 97 stocks falling compared to 94 advancing, while 47 remained unchanged.

On the currency front, the peso closed at 57.91 against the dollar, moving slightly from its 57.85 close on December 27 last year. The peso opened at 57.9 and fluctuated between 57.78 and 58.04 during the trading session, averaging at 57.88. Trade volume decreased to USD1.19 billion from USD1.52 billion on the last trading day of 2024.