MANILA – Last-minute bargain hunting lifted the country’s equities index Wednesday but the peso closed almost unchanged against the US dollar.
Luis Limlingan, Regina Capital Development Corporation head of sales, attributed the bargain hunting to news about another possible stimulus program by the US government to lift the economy.
The Philippine Stock Exchange index (PSEi) rose for the second consecutive trading day with a jump of 0.47 percent, or 26.11 points, to 5,581.96 points.
All Shares increased by 0.35 percent, or 11.65 points, to 3,371.47 points.
Most of the sectoral gauges also finished the day with gains, led by the Mining and Oil counter with 1.16 percent.
Financials rose by 1.15 percent, Holding Firms by 1.07 percent, and Property by 0.36 percent.
On the other hand, Industrial declined by 1.27 percent and Services by 0.27 percent.
Volume totaled to 316.58 million amounting to PHP3.3 billion.
Losers led gainers at 88 to 84, while 40 shares were unchanged.
Meanwhile, the peso ended the day sideways at 50.65 to a US dollar from its 50.7 close a day ago.
It opened the day better at 50.7 from the previous session’s 50.82 start.
It traded between 50.75 and 50.615, resulting in an average of 50.694.
Volume totaled USD919.2 million, higher than day’s ago’s USD567.8 million. (PNA)
