Manila: The Philippine peso ended the week up against the US dollar, even briefly touching the 58-level mid-day, but the Philippine Stock Exchange index (PSEi) ended on the red as market became cautious. The local currency closed at 59.09 against the US dollar, an improvement from its 59.16 close on Thursday. It opened at 59.03, better than its previous start of 59.18, and traded within the range of 59.10 and 58.97, posting an average of 59.04. The trading volume decreased to USD1.16 billion from the previous session's USD1.37 billion.

According to Philippines News Agency, the PSEi shed 1.02 percent to 6,333.26 points, and the broader All Shares index decreased by 0.54 percent to 3,599.31 points. Most sectoral indices ended in negative territory, led by Financials, which dropped by 1.16 percent. This was followed by declines in the Property sector by 0.94 percent, Services by 0.87 percent, Holding Firms by 0.84 percent, and Industrial by 0.45 percent. However, the Mining and Oil index was the exception, gaining 2.76 percent during the day.

The volume of trades reached 758.07 million shares, amounting to PHP6.3 billion. Decliners outnumbered advancers at 119 to 86, while 59 shares remained unchanged. "The PSEi ended lower, testing the 6,300 support level, reflecting cautious market positioning. Despite the peso's appreciation against the USD, the benchmark declined due to profit-taking following yesterday's gains, signaling near-term consolidation and a more defensive investor stance amid lingering uncertainties," said Luis Limlingan, head of sales at Regina Capital Development Corporation.