MANILA – The Philippine Stock Exchange index (PSEi) ended in the positive territory while the peso slightly shed against the US dollar on Monday’s trading.
The local stock market gained 75.55 points, or 1.07 percent, to 7,130.74.
All shares also increased by 26.64 points, or 0.58 percent, to 1,585.13.
All counters finished this trading with increments except for the Mining and Oil index whose shares declined by 123.06 points, or 1.31 percent, to 9,238.97.
Leading the gains is Industrial, which shares went up by 76.18 points to 10,383.23.
This is followed by Services, up by 38.24 points to 1,976.76; Property, up by 36.12 points to 3,252.83; Financials, up by 26.64 points to 1,585.13; and Holding Firms, up by 18.26 points to 6,814.65.
“Philippine shares were bought ahead of the inflation release, and as the country remained free of any Omicron cases for now. Tomorrow, the November CPI (consumer price index) will be released, and many are expecting this to fall below 4 percent, which is within the acceptable range of the BSP (Bangko Sentral ng Pilipinas) as well,” Regina Capital Development Corp. Luis Limlingan said.
He said investors overseas are still assessing the impact of the Omicron variant on their open positions.
Meanwhile, the local currency closed slightly weaker to 50.41 from the previous day’s trading at 50.36 to a dollar.
The currency pair opened the day at 50.41, and traded between 50.32 and 50.44.
Weighted average for the day settled at 50.37 to a dollar.
Volume of trade further declined to USD690.84 million from USD959.85 million during last week’s closing. (PNA)
