Manila: The Philippine Stock Exchange index (PSEi) experienced an increase on Tuesday amidst the peso's prior gains, although the currency ended the day weaker against the US dollar. The PSEi escalated by 0.92 percent to reach 6,547.98, and the All Shares index saw a rise of 0.64 percent, closing at 3,614.47.
According to Philippines News Agency, the Services sector was the leading gainer among sectoral indices, advancing by 2.18 percent. It was followed by the Industrial sector, which increased by 1.48 percent, Holding Firms at 0.38 percent, Mining and Oil at 0.06 percent, and Financials at 0.04 percent. However, the Property sector experienced a decline of 0.41 percent.
Trading volume amounted to 2.07 billion shares, with a total value of PHP8.05 billion. The market saw more advancers than decliners, with 100 stocks gaining, 98 losing, and 74 remaining unchanged. Philstocks Financial Inc. noted that the local market continued its upward trend as investors remained positive about the local currency's previous gains against the US dollar. Additionally, optimism regarding the fourth quarter and full-year 2025 corporate results contributed to the market's rise.
In contrast, the peso weakened, closing at 57.75 against the dollar, compared to 57.57 on Monday. It opened the day at 57.66, reaching a high of 57.64, dropping to a low of 57.82, and averaging 57.72. Forex turnover decreased to USD1.36 billion from the previous USD1.72 billion.
