MANILA -- The Philippine Stock Exchange index (PSEi) bounced back on Wednesday after a two-day slide but the peso continued to lose ground against the greenback.
The main equities gauge gained 1.94 percent, or 150.64 points, to 7,917.39 points, which Regina Capital Managing Director Luis Limlingan attributed to investors placing their bets on the second quarter output, which the Philippine Statistics Authority (PSA) is scheduled to release on Thursday, August 8.
Some economists forecast a 5.9 percent growth, as measured by gross domestic product (GDP), from April to June this year. This is faster than the 5.6 percent in the first quarter this year, which, in turn, is slower than quarter ago's 6.3 percent.
The positive outturn of the main index was tracked by most of the counters, with the All Shares up by 1.33 percent, or 63.50 points, to 4,827.41 points.
Financials rose the highest among the sectors at 4.04 percent and was followed by Holding Firms, 1.90 percent; Property, 1.33 percent; Industrial, 0.14 percent; and Services, 0.13 percent.
Only the Mining and Oil ended on the red after falling 0.34 percent. Volume reached 550.02 million shares amounting to PHP6.64 billion. Gainers led losers at 112 to 75 while 60 shares were unchanged.
On the other hand, the peso ended the day at 52.32 from 51.955. It opened the day at 52.05, sideways from its 52.1 start in the previous day.
It traded between 52.36 and 52.00, resulting to an average of 52.186. Volume totaled to USD1.72 billion, up from USD1.32 billion a day ago.
The currency pair is seen to trade between 52.00 and 52.20 Thursday. (PNA)
