Manila: Bargain-hunting lifted the Philippine Stock Exchange index (PSEi) Monday while the peso improved against the greenback. The main equities index gained 0.67 percent to 6,348.65 points, and the broader All Shares by 0.40 percent to 3,766.60 points.
According to Philippines News Agency, the sectors posted mixed closing, with Property, Mining and Oil, and Financials rising by 2.80 percent, 2.31 percent, and 1.49 percent, respectively. On the other hand, Holding Firms fell 0.56 percent and was trailed by the Industrial, 0.37 percent, and Services, 0.07 percent. Volume reached 797.02 million shares amounting to PHP5.2 billion. Advancers led decliners at 100 to 91, while 61 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, said the bargain hunting was driven by the ‘strong selling pressure’ in last week’s trading. ‘Moreover, investors are still awaiting GDP (gross domestic product) and inflation data, which could prompt them to take a firmer position,’ he said. The Philippine Statistics Authority (PSA) is set to report the July 2025 inflation on Tuesday, and the domestic output for the first half of the year on Thursday.
Positive investors’ sentiments led the foreign exchange trading during the day, with the peso ending the week’s first trading day at 57.29 from 58.14 close at the end of last week. It opened the day strong at 57.75 from its 58.25 start in the previous session. It traded between 57.29 and 57.75, bringing the day’s average to 57.45. Volume went down, however, to USD1.69 billion from USD2.54 billion in the previous session.
