Manila: The Philippine Stock Exchange index (PSEi) sustained its rally for the third consecutive day on Wednesday, but the Philippine peso weakened against the U.S. dollar. The local bourse's main index rose by 0.68 percent to 5,953.17 points, while the broader All Shares Index gained 0.22 percent to 3,339.32 points.

According to Philippines News Agency, among the sectoral gauges, only the Services index posted gains, rising by 3.74 percent. The decliners were led by the Industrial index, which slipped by 1.18 percent, followed by Holding Firms at 1.15 percent; Mining and Oil, 0.69 percent; Property, 0.41 percent; and Financials, 0.36 percent. Volume remained thin at 451.8 million shares worth PHP8 billion. Losers outnumbered gainers, 103 to 75, while 56 shares were unchanged.

Philstocks Financial Inc., in a market report, noted that the main index remained on an upward trajectory, but risks persist, reflecting negative sentiment amid lingering uncertainties over the U.S.-Iran situation. Meanwhile, the local currency closed weaker at 61.74 against the U.S. dollar, compared with its 61.67 finish on Tuesday. It opened stronger at 61.68 from the previous session's opening level of 61.74 and traded between 61.65 and 61.75, bringing the average exchange rate to 61.72. Trading volume reached USD1.89 billion, up from USD1.3 billion a day earlier.