Manila: Both the Philippine Stock Exchange index and the Philippine peso ended Wednesday with gains, with the local currency strengthening to a 56-level, partly on positive earnings reports of domestically-listed firms. The main equities index rose 0.56 percent to 6,325.09 points, and the All Shares increased by 0.36 percent to 3,764.64 points.

According to Philippines News Agency, most of the sectoral indices also gained during the day, including Holding Firms at 1.48 percent, Financials at 1.12 percent, Property at 0.41 percent, and Industrial at 0.13 percent. In contrast, the Services index slipped by 0.92 percent and Mining and Oil by 0.17 percent. Volume reached 893.55 million shares, amounting to PHP10.61 billion, with advancers leading decliners at 103 to 91, while 58 shares remained unchanged.

Luis Limlingan, Regina Capital Development Corporation head of sales, noted that sentiment was also lifted by the steady US inflation report, which could influence the Federal Reserve’s monetary policy and overall investor sentiment in the country. The consumer price index (CPI) in the US last July remained steady at 2.7 percent, matching the year-ago level and falling below expectations. This stability supported the peso’s strength, allowing the local currency to close the day’s trade at 56.72 from 57.07 the previous day.

The peso opened the day at 56.88, an improvement from its 57.14 start in the previous session. It traded between 57.01 and 56.72, bringing the day’s average to 56.88. Volume for the peso reached USD1.63 billion, marking a decrease from the USD1.83 billion recorded a day earlier.