MANILA – Risk-on sentiments lifted both the Philippine Stock Exchange index (PSEi) and the peso, which strengthened to the 50-level on Monday ahead of economic releases for February 2022.
The main index rose by 1.51 percent, or 109.68 points, to 7,361.65 points.
All Shares jumped by 1.25 percent, or 48.12 points, to 3,904.20 points.
Most of the sectoral counters also gained during the day, namely Property, 3.25 percent; Industrial, 2.12 percent; Holding Firms, 1.72 percent; Mining and Oil, 0.94 percent; and Financials, 0.53 percent.
Only the Services finished the day in the negative territory after it fell 0.14 percent.
Volume totaled to 1.28 billion shares amounting to PHP7.42 billion.
Advancers led decliners at 123 to 77, while 40 shares were unchanged.
“Philippine shares were bought up to end the first month of 2022 as investors become optimistic over developments locally and abroad,” said Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales.
Among the data releases this week are the final reading for Purchasing Managers’ Index (PMI) for manufacturing and services, jobless claims, and the January employment report in the US.
On the local front, the Bangko Sentral ng Pilipinas (BSP) released during the day the hot money report for 2021 and domestic liquidity as of December 2021.
Another factor is the implementation of the Alert Level 2 on February 1 to 15 in the National Capital Region (NCR), among others, Limlingan added.
Meanwhile, the local currency finished the day at 50.95 against the US dollar from 51.23 Friday last week.
It opened the day at 51.2, way better than its 51.34 start in the previous session.
It traded between 51.23 and 50.95, bringing the day’s average to 51.135.
Volume reached USD980.79 million, down from USD1.12 billion at the end of last week. (PNA)
