MANILA – Risk-on sentiments allowed both the local main stocks index and the peso to end Wednesday's trading up.
The Philippine Stock Exchange index (PSEi) rose 1.24 percent, or 68.99 points, to 5,643.97 points.
All other gauges also finished the day’s trade on a positive note, with All Shares up by 0.90 percent, or 30.53 points, to 3,425.28 points.
Property led the sectors with a jump of 2.94 percent and was trailed by Mining and Oil, 1.24 percent; Services, 0.84 percent; Holding Firms, 0.82 percent; Industrial, 0.68 percent; and Financials, 0.04 percent.
Volume totaled 584.34 million shares amounting to PHP4.54 billion.
Gainers led losers at 110 to 78, while 49 shares were unchanged.
Regina Capital managing director Luis Limlingan attributed the positive close of the local bourse during the day to “optimism over a potential reopening of the US economy” and several other countries, as well.
Among the countries that plan to start easing lockdown restrictions are France on May 11 and Spain over the next eight weeks or end of June.
Limlingan said investors are also awaiting the policy decision announcement of the Federal Open Market Committee (FOMC) later in the day.
He said the Fed is not expected to announce additional rate reduction “but tone to give hints to (the) economic situation.”
The peso ended the day better against the US dollar at 50.51 from its 50.67 close on Tuesday.
It opened the day sideways at 50.62 and traded between 50.64 and 50.50. The average level for the trade stood at 50.589.
Volume rose to USD498.5 million from the previous day’s USD368.53 million. (PNA)
