MANILA -- The Philippine peso and the main stocks index ended higher Wednesday on news that the Chinese government will implement several measures to help lift its economy from the effect of the coronavirus disease 2019 (Covid-19).
The local currency finished the day at 50.54 from its 50.645 close a day ago.
It opened the day flat at 50.63 and traded between 50.65 and 50.52. Average rate for the day stood at 50.573.
Volume of trade totaled to USD998.3 million, higher than the USD933.9 billion a day ago.
The peso is forecast to trade between 50.50 and 50.70 to a US dollar on Thursday.
The Philippine Stock Exchange index (PSEi) gained 1.01 percent, or 74.05 points, to 7,396.94 points.
All other counters also finished the day with gains, with All Shares up by 0.49 percent, or 21.11 points, to 4,362.09 points.
Holding Firms registered the highest increase among the sectoral gauges with a jump of 1.17 percent, which was followed by the Services, 1.16 percent; Industrial, 1.15 percent; Financials, 0.58 percent; Property, 0.48 percent; and Mining and Oil, 0.37 percent.
Volume for the day was thin at 621.16 million shares amounting to PHP6.5 billion.
Gainers led losers at 101 to 91, while 48 shares were unchanged. (PNA)
