MANILA – Both the Philippines’ main equities index and the peso ended the week on a positive note on investors’ optimism on continued easing of quarantine levels in the country, especially in Metro Manila.
The Philippine Stock Exchange index (PSEi) gained 4.82 percent, or 268.62 points, to 5,838.84 points.
All Shares increased by 3.26 percent, or 109.04 points, to 3,457.70 points.
Most of the sectoral indices also gained during the day, led by the Holding Firms, which rose 6.26 percent.
Financials increased by 5.36 percent; Services, 3.44 percent; Property, 2.69 percent; and Industrial, 1.67 percent.
Only the Mining and Oil ended the trade on the red after it fell 1.24 percent.
Volume totaled to 1.965 billion shares amounting to PHP20.39 billion.
Gainers led losers at 95 to 81 while 40 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, said last minute window dressing is among the factors that supported investors’ sentiment and boosted the main index.
“In addition, investors remained optimistic on the outlook of the local economy as the country transitions to GCQ (general community quarantine),” he said.
For one, Metro Manila will be placed under GCQ staring June 1 from the current modified enhanced community quarantine (MECQ).
Relatively, the peso closed the week at 50.61 to a US dollar from 50.69 Thursday.
It opened the trade at 50.6, little changed from the 50.63 a day ago.
It traded between 50.65 and 50.55, resulting in an average of 50.585.
Volume totaled to USD633.93 million, lower than the USD765.28 million. (PNA)
