MANILA – The Philippine Stock Exchange index (PSEi) ended the week up and the peso barely moved on Friday due to correction.
The main equities index ended the trade at 6,794.86 points, up by 0.58 percent or 38.91 points.
All Shares rose by 0.49 percent, or 20.14 points, to 4,120.30 points.
Half of the sectoral gauges tracked the main index – the Financials, which increased by 2.9 percent; Property, 2.14 percent; and Services, 0.47 percent.
On the other hand, Holding Firms slipped by 1 percent, Mining and Oil by 0.64 percent, and Industrial by 0.21 percent.
Volume totaled 12.28 billion shares amounting to PHP13.74 billion.
Gainers led losers at 121 to 96 while 42 shares were unchanged.
“Shares in the Philippine market closed on the positive as an outsized surge in bond yields spooked investors, who rushed to dump risk assets, especially high-flying technology names,” said Luis Limlingan, Regina Capital Development Corp. head of sales.
He said the rate of the 10-year US Treasury bond climbed to as high as 1.6 percent, which was described by other analysts as a “flash” spike.
Meanwhile, the peso barely moved against the US dollar after ending the trade at 48.08 from 48.079 on Thursday.
It opened the day flat at 48.07 and traded between 48.085 and 48.05, averaging 48.062.
Volume totaled USD1.01 billion, higher than the previous session’s USD763.05 million. (PNA)
