Manila: The Philippine Stock Exchange index (PSEi) rebounded on Tuesday, bolstered by bargain-hunting activities, while the Philippine peso weakened against the US dollar following a recent period of appreciation. After experiencing a two-day decline, the main index of the local bourse increased by 0.53 percent to reach 6,306.90 points. In contrast, the broader All Shares index remained relatively unchanged, showing a slight increase of 0.02 percent to close at 3,581.08 points.

According to the Philippines News Agency, half of the sectoral gauges saw improvements during the trading day. The Services and Holding Firms sectors both recorded increases of 1.37 percent, while the Industrial sector rose by 0.23 percent. Conversely, the Mining and Oil sector experienced a decline of 1.54 percent, the Financials sector dropped by 0.65 percent, and the Property sector decreased by 0.64 percent.

The volume of trade reached 2.23 billion shares, amounting to PHP15.85 billion. A total of 112 stocks declined, compared to 85 that advanced, while 61 shares remained unchanged. Philstocks Financial Inc. attributed the PSEi's positive performance to bargain-hunting activities that followed the recent decrease in the main index. The report also noted that the local bourse was supported by positive spillovers from Wall Street.

On the currency front, the Philippine peso ended the day weaker against the US dollar, closing at 59.08, a decline from the previous day's strength at 58.97. The peso opened the trading session at 59.05, compared to 58.97 in the previous session, and traded within the range of 59.03 to 59.08, resulting in an average of 59.07. The total volume of currency traded amounted to USD1 billion, an increase from the USD954 million recorded on Monday.