Manila: The Philippine Stock Exchange index (PSEi) and the peso experienced an uptick during the shortened trading week, largely due to an enhancement in investor sentiment.

According to Philippines News Agency, the PSEi saw an increase of 0.84 percent, reaching 5,998.68 points on Wednesday. Additionally, the All Shares index witnessed a rise of 0.59 percent, closing at 3,353.60. Sectoral indices mirrored this positive trend with most posting gains. Leading the charge was the Mining and Oil sector, which surged by 6.37 percent. This was followed by Holding Firms at 2.07 percent, Financials at 1.89 percent, Services at 0.54 percent, and Property at 0.36 percent. However, the Industrial sector experienced a decline, dipping by 1.38 percent.

The trading volume reached 1.18 billion shares, amounting to PHP7.8 billion. The market saw more advancers than decliners, with 112 stocks advancing, 87 declining, and 55 remaining unchanged. Luis Limlingan, head of sales at Regina Capital Development Corporation, noted, "PSEi extended its rebound on improving sentiment, driven by hopes of a potential US de-escalation in Iran within the next two to three weeks, which could ease external concerns."

Limlingan further explained that while there were gains, they were modest due to ongoing concerns about elevated oil prices, which pose inflationary risks and contribute to cautious investor sentiment amid geopolitical uncertainties.

In parallel, the peso strengthened against the US dollar, appreciating to 60.16 from the previous 60.74. It opened at 60.50, an improvement from the last session's 60.65, trading within a range of 60.5 to 60.1, and averaging at 60.32. Trading volume also saw a significant rise, increasing to USD2.73 billion from USD1.59 billion.

Trading activities will pause on Maundy Thursday and Good Friday, as both days are observed as regular holidays.