MANILA – Both the Philippines’ main equities gauge and the peso ended on a positive note Monday as investors await the decision on whether the Luzon lockdown will be lifted or eased after May 15.
The Philippine Stock Exchange index (PSEi) gained 0.82 percent, or 45.99 points, to 5,667.93 points.
All Shares increased by 0.66 percent, or 22.44 points, to 3,426.24 points.
Industrial led the sectors that went up during the day after it jumped by 2.44 percent, and was trailed by the Mining and Oil, 1.50 percent; Financials, 1.04 percent; Holding Firms, 0.84 percent; and Property, 0.10 percent.
Only the Services index declined during the day after it dipped 0.48 percent.
Volume totaled 480.05 million shares amounting to PHP4.539 billion.
Luis Limlingan, Regina Capital Development Corporation head of sales, said: “investors optimistically awaited the decision of Malacanang regarding the possible lifting or even easing of the lockdown after May 15”.
He said, “many are split as to whether the administration will change its stance after the ECQ (enhanced community quarantine) started nearly two months ago”.
On the external front, key data to be released during the week include the April US consumer price index (CPI) report on May 12, and the retail sales and industrial production on Friday.
The optimism in the equities market during the day was mirrored in the currency trading, with the peso ending the day at 50.3 to a US dollar from 50.42 Friday last week.
It opened the day’s trade at 50.45, sideways from its 50.5 start Friday last week.
It traded between 50.45 and 50.3, resulting in an average of 50.348.
Volume totaled to USD474.22 million, higher than the USD433.2 million on Friday. (PNA)
