MANILA – Investors’ appetite rose Monday and boosted both the Philippine Stock Exchange index (PSEi) and the peso after US and China announced the positive outcome of their trade talks last week.
Citing news reports, BPI Research said US President Donald Trump announced that it will not implement the new set of tariff scheduled to be slapped on Chinese goods this week, while China has decided to buy US agricultural products and address property and financial sector issues.
These developments lifted the main equities index after it rose 0.44 percent, or 34.35 points, to 7,884.29 points.
All Shares increased by 0.37 percent, or 17.60 points, to 4,759.09 points.
Property registered the highest increase at 0.66 percent and was followed by the Holding Firms, 0.44 percent; Industrial, 0.27 percent; Financials, 0.25 percent; and Services, 0.18 percent.
Only the Mining and Oil index ended on the red after losing 86.41 points.
Volume was thin at 479.84 million shares amounting to PHP3.76 billion.
Gainers surpassed losers at 96 to 74 while 71 shares were unchanged.
Relatively, the local currency ended the day sideways at 51.57 from 51.58 Friday last week.
It opened the day at 51.57, little changed from the 51.55 in the previous session.
It traded between 51.43 and 51.6, bringing the average to 51.506.
Volume reached USD1.17 billion, higher than the USD981.25 last Friday.
The currency pair is seen to range between 51.40 and 51.70 on Tuesday. (PNA)
