MANILA – Positive sentiments reigned in the local bourse on Thursday after the announcement of changes in the Federal Reserve’s asset purchases while the peso ended sideways against the US dollar.
The Philippine Stock Exchange index (PSEi) increased by 0.26 percent, or 19 points, to 7,203.72 points.
All Shares followed with a 0.09 percent, or 4.08 points, jump to 4,437.17 points.
Mining and Oil led the sectoral gauges with an expansion of 0.84 percent and was trailed by the Industrial, 0.57 percent; Services, 0.29 percent; Financials and Property, both rising by 12 percent; and Holding Firms, 0.01 percent.
Volume totaled to 4.69 billion shares amounting to PHP7.68 billion.
Decliners led advancers at 123 to 80 while 42 shares were unchanged.
“The index sustained solid gains with more index heavyweights reporting earnings and as the Federal Reserve said it will begin trimming its monthly bond purchases in November with plans to end them in 2022,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
After the two-day meeting of the Federal Open Market Committee (FOMC) ending November 3, the Fed kept key rates unchanged and announced that it will be reducing its monthly asset purchases by USD10 billion for Treasury securities and USD5 billion for agency mortgage-backed securities.
The peso ended the day at 50.595 against a greenback from its 50.57 close a day ago.
It opened the day at 50.55 and traded between 50.62 and 50.53. Average level for the day stood at 50.567.
Volume totaled to USD782.25 million, lower than the previous session’s USD941.7 million. (PNA)
