Manila: The Philippine stocks closed in the green, hitting the 6,900-mark following a phone call between President Ferdinand R. Marcos Jr. and United States President-elect Donald Trump, while the peso further weakened against the greenback on Wednesday.

According to Philippines News Agency, Philippine stocks extended their rally, posting the biggest gain since February 2023. Regina Capital managing director Luis Limlingan noted that the market viewed the recent interaction call between Marcos and Trump positively, with key players such as SM, BDO, and ACEN leading the market. The Philippine Stock Exchange index (PSEi) jumped by 2.53 percent to 6,975.63, while All Shares climbed by 0.92 percent to 3,847.41.

All sectors ended in positive territory, led by Holding firms, which rose by 3.26 percent. Financials followed with an increase of 2.95 percent; Property gained 1.99 percent; Industrial rose by 1.61 percent; Services went up by 0.84 percent; and Mining and Oil increased by 0.14 percent. With more than PH
P5.38 billion in total value, decliners edged advancers at 110 to 88, with 59 indices remaining unchanged.

Meanwhile, the peso weakened to 58.91 against the US dollar, a drop from 58.81 on Tuesday. It opened at 58.8 and traded between 58.925 and 58.77, bringing the midweek’s average to 58.871.