MANILA -- The Philippine Stock Exchange index (PSEi) rose anew Thursday as investors digest the government’s report about the 5.9-percent growth of the domestic economy in 2019, while the peso ended sideways.
The stock market barometer improved by 1.98 percent, or 147.62 points, to 7,616.35 points, which BPI Research pointed to report on the Philippine gross domestic product (GDP) expansion last year.
“The PSEi rebounded as investors parsed the latest PHL GDP figures, which picked up in 4Q 2019, but missed the government's target for the year,” it said.
Last year, GDP growth averaged at 5. 9 percent, lower than the government’s 6-percent to 6.5-percent target and the 6.2 percent in the previous year.
On the other hand, growth in the last quarter improved to 6.3 percent from revised 6 percent in the previous quarter.
The rise of the main equities index was mirrored by all other counters, with the All Shares up by 1.52 percent, or 67.41 points, to 4,504.20 points.
Industrial posted the highest jump among the sectors with 2.72 percent, which was followed by Holding Firms, 2.23 percent; Property, 1.92 percent; Financials, 1.03 percent; Services, 0.67 percent; and Mining and Oil, 0.27 percent.
Volume was thin at 669.94 million shares amounting to PHP6.63 billion.
Advancers led decliners at 117 to 73, while 50 shares were unchanged.
On the other hand, the peso ended sideways against the US dollar at 50.93 from 50.95 a day ago.
It opened the day at 50.96 from the 51.06 start in the previous session, and traded between 50.9 and 51.049, resulting in an average of 50.96.
Volume totaled USD981.95 million, lower than the USD1.1 billion a day ago.
The currency pair is seen to trade between 50.85 and 51.15 on Friday. (PNA)
