Manila: Philippine shares slightly recovered on Wednesday, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) rose 0.10 percent to 6,166.05 while All Shares also went up to 3,676.71.
According to Philippines News Agency, “Philippine shares made a modest recovering, as Wall Street also closed higher on Tuesday, extending gains as investors bet on narrower US tariffs,” Regina Capital Development Corporation Managing Director Luis Limlingan said. Most sectors closed in the green led by Mining and Oil and Services. Holding Firms and Property, however, closed in the red. Decliners led advancers at 111 to 92.
The peso meanwhile, moved sideways, closing at 57.69 to a dollar from 57.6 the previous day. It opened at 57.58 and traded between 57.57 to 57.74, bringing the day’s weighted average to 57.67. Volume of trade decreased to USD1.33 billion from USD1.54 billion the previous day.
