MANILA – The Philippine Stock Exchange index (PSEi) recovered Tuesday after a two-day slide while the peso followed suit.
The main equities index rose 3.70 percent, or 190.07 points, to 5,321.23 points.
This performance was mirrored by all other indices, with All Shares up by 2.97 percent, or 93.46 points, to 3.237.77 points.
Holding Firms registered the highest increase at 5.006 percent and was trailed by the Industrial, 4.78 percent; Financials, 4.01 percent; Mining and Oil, 2.83 percent; Services, 1.92 percent; and Property, 0.98 percent.
Volume totaled to 546.31 million shares amounting to PHP7.415 billion.
Gainers surpassed losers at 132 to 53, while 41 shares were unchanged.
The risk-on sentiment echoed those in the US following its government’s resolve to further address the rise of coronavirus disease 2019 (Covid-19) cases by extending the stay-at-home orders until April 30.
In Europe, Spain reported fewer deaths and the Netherlands and Portugal reported slower rates of new infections.
Lower demand for oil resulted in the sustained drop of prices, with the West Texas Intermediate (WTI) down by around 4.5 percent to almost USD20 per barrel, the lowest since 2002.
Meanwhile, the local currency ended the day at 50.68 from 50.96 Monday.
Its strength for the day showed early on after it opened at 50.85 from 51.00 in the previous session.
It traded between 50.89 and 50.68, resulting in an average of 50.78.
Volume totaled to USD363.1 million, higher than the USD315.35 million Monday. (PNA)
