MANILA – The Philippine Stock Exchange index (PSEi) ended its four-day losing streak Tuesday but the peso weakened on trade concerns overseas.
The main equities index gained 0.40 percent, or 31.20 points, to 7,912.14 points, which BPI Research considered a sideways move due to “lack of positive catalysts.”
PSEI’s recovery was mirrored by all the other counters, with All Shares rising by 0.20 percent, or 9.46 points, to 4,729.72 points.
Mining and Oil led the sectors with an increase of 0.60 percent, which was followed by Financials, 0.48 percent; Holding Firms, 0.45 percent; Services, 0.37 percent; Industrial, 0.21 percent; and Property, 0.05 percent.
Volume reached 1.32 billion shares amounting to PHP6.22 billion.
Losers continue to surpass gainers at 100 to 88, while 50 shares were unchanged.
On the other hand, the local currency ended the day’s trade at 50.9 from 50.661 Monday.
BPI Research attributed the peso’s weakness to investors’ concerns still on the trade discussions between the US and China.
The peso opened at 50.79 from 50.6 a day ago.
It traded between 50.9 and 50.74, resulting in an average of 50.804.
Volume reached USD959.75 million, higher than the USD884.8 million Monday.
The currency pair is seen to trade between 50.70 and 51.00 on Wednesday. (PNA)
