Manila: The Philippine Stock Exchange index (PSEi) rose Tuesday amid the selling pressures and the local currency gained against the US dollar. The main stocks gauge rose 0.67 percent to 5,867.04 points, and All Shares by 0.28 percent to 3,558.88 points.
According to Philippines News Agency, half of the sectoral gauges also gained during the day, namely Financials, 2.09 percent; Property, 1.94 percent; and Services, 0.12 percent. On the other hand, Industrial fell 1.24 percent, Mining and Oil, 1.20 percent; and Holding Firms, 0.07 percent. Volume was thin at 538.81 million shares, amounting to PHP6.37 billion. Advancers led decliners at 108 to 83, while 57 shares were unchanged.
‘The Philippine market ended in the green after experiencing heavy selling pressure yesterday. Today’s increase appears to be more of a technical rebound, as the market continues to await the release of inflation and GDP (gross domestic product) figures, along with corporate earnings reports, to confirm its next direction,’ Luis Limlingan, Regina Capital Development Corporation head of sales, said. The Philippine Statistics Authority (PSA) is scheduled to release the domestic economy’s third quarter 2025 performance on Nov. 7.
The positive development in the local bourse was tracked by the peso after it finished the day’s trade at 58.51 from 58.79 on Monday. It opened the trade better at 58.7 from the day-ago’s 58.8 and traded between 58.75 and 58.51. The average for the day stood at 58.68. Volume went up to USD1.326 billion from the day-ago’s USD1.325 billion.
