MANILA – The Philippine Stock Exchange index (PSEi) started the shortened trading week up after several days of slides in the previous week and this performance was mirrored by the local currency.
The main equities index rose by 0.73 percent, or 51.31 points, to 7,106.01 points.
All Shares followed with a jump of 0.35 percent, or 15.25 points, to 4,402.04 points.
Most of the sectoral indexes also gained during the day with the Holding Firms rising by 1.54 percent; Financials, 1.12 percent; Property, 0.56 percent; and Services, 0.35 percent.
On the other hand, the Mining and Oil index shed 2.26 percent and Industrial by 1.67 percent.
Volume totaled to 930.47 million shares amounting to PHP7.5 billion.
Decliners led advancers at 104 to 81, while 46 shares were unchanged.
“Philippine shares got off to a strong start to start November as traders weigh on record-high close for US equities and await key central bank decisions amid concerns about elevated inflation,” said Luis Limlingan, Regina Capital Development Corporation head of sales.
Among the major catalysts for this week include the would-be decision of the Federal Reserve on its asset purchases.
Meanwhile, the peso closed sideways against the US dollar after closing Tuesday at 50.39 from 50.415 Friday last week.
There was no trading on Monday due to the All Saints’ Day holiday.
The local currency opened the day at 50.46 and traded between 50.52 and 50.36.
Average level for the day stood at 50.453.
Volume totaled to USD1.149 billion, higher than the USD983.38 million at the end of last week’s trading. (PNA)
