MANILA – Risk-on sentiments ahead of the holidays continue to sustain the rise of the local stock barometer Wednesday while the peso finished flat against the US dollar.
The Philippine Stock Exchange index (PSEi) rose by 1.01 percent, or 71.06 points, to 7,080.62 points.
All Shares increased by 0.53 percent, or 22.42 points, to 4,222.09 points.
Most of the sectoral gauges also ended the day’s trade with gains, led by the Holding Firms index with a jump of 1.88 percent.
It was trailed by Industrial, 0.87 percent; Property, 0.84 percent; and Financials, 0.19 percent.
The Services index slipped by 0.78 percent, while Mining and Oil was flat after a drop of 0.02 percent.
Volume totaled 3.90 billion shares amounting to PHP8.80 billion.
Decliners surpassed advancers at 116 to 108, while 39 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, said the strong December rally continues partly due to the USD908-billion stimulus plan proposed by US lawmakers.
The stimulus measures include, among others, more than USD200 billion in Paycheck Protection Program for small business loans, which is seen to help in the economic recovery.
Meanwhile, the peso remains firm against the greenback after ending the day’s trade at 48.05, same as in the previous session.
It opened the day at 48.04 and traded between 48.06 and 48.025.
The average level for the day stood at 48.044.
Volume totaled USD742.45 million, higher than the previous day’s USD722.6 million. (PNA)
