MANILA – The main equities index recovered on Tuesday, tracking US counterparts, while the peso ended the day little moved against the US dollar.
The Philippine Stock Exchange index (PSEi) gained by 0.63 percent, or 43.24 points, to 6,870.41 points.
All Shares followed with a jump of 0.68 percent, or 28.16 points, to 4,182.90 points.
Only the Financials index ended the day in the negative territory after it fell by 0.29 percent while Holding Firms increased by 1.11 percent; Industrial, 1.09 percent; Property and Mining and Oil, both at 0.59 percent; and Services, 0.57 percent.
Volume reached 2.55 billion shares amounting to PHP5.22 billion.
Advancers led decliners at 122 to 69, while 53 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, said the PSEi tracked US counterparts, which posted their highest jump in percentage terms since last March, with the Dow Jones up by 1.76 percent and S&P 500 rising by 1.40 percent.
“The upbeat performance in the local and regional markets came as investors moved on from the US Fed’s earlier comment that interest rate hikes are coming sooner than expected,” he said.
Meanwhile, the peso was almost unchanged against the greenback after it finished the trade at 48.7 from 48.695 a day ago.
It opened the day at 48.68 and traded between 48.76 and 48.66.
Average level for the day stood at 48.717.
Volume reached USD1.07 billion, lower than the previous session’s USD1.34 billion. (PNA)
