Manila: The Philippine Stock Exchange index (PSEi) rebounded on Friday as investors engaged in bargain hunting, while the peso also strengthened on the back of a weaker US dollar. The PSEi climbed 1.70 percent to 6,328.97 points, while the broader All Shares index rose 0.99 percent to 3,583.23 points.
According to Philippines News Agency, most sectoral indices advanced, led by Financials, which surged 4.23 percent. This was followed by Services (1.42 percent), Industrials (0.53 percent), Holding Firms (0.33 percent), and Property (0.30 percent). Mining and Oil was the lone decliner, slipping 1.03 percent. Trading volume reached 2.06 billion shares worth PHP14.6 billion. Decliners outnumbered advancers, 108 to 90, while 65 issues were unchanged.
'The local market bounced back as investors hunted for bargains with hopes pinned on another possible rate cut by the Bangko Sentral ng Pilipinas. This comes following the Philippines' dismal Q4 2025 GDP (gross domestic product) report,' Philstocks Financial Inc. said in a report. Meanwhile, the peso ended the week at 58.86 to the US dollar, firmer than the previous session's 58.94. It opened at 58.98, weaker than Thursday's 58.78 opening, and traded between 58.85 and 59.00, averaging 58.95 for the day.
Rizal Commercial Banking Corporation chief economist Michael Ricafort said the peso strengthened as the US dollar posted its weakest level in nearly four years, or since February 2022. He added that the peso posted its second straight weekly gain, up 0.4 percent, and forecast it to trade between 58.75 and 59.00 against the dollar on Monday.
