MANILA – Local shares and currency gained on Thursday trading following data releases from both international and domestic markets.
The Philippine Stock Exchange index (PSEi) ended the day’s trading 66.19 points higher, or 0.97 percent change, to 6,868.92 with all counters in the green.
All shares rose by 1.33 percent, or 48.17 points, to 3,663.16.
The Mining and Oil sector posted the biggest jump, with an increment of 508.99 points or 4.52 percent to 11,769.57.
This is followed by Industrial, up by 80.71 points (0.86 percent) to 9,484.16; Holding Firms, up by 60.44 points (0.95 percent) to 6,395.99; Property, up by 36.9 points (1.18 percent) to 3,161.91; Services, up by 31.72 points (1.69 percent) to 1,907.91; and Financials, up by 12.52 points (0.77 percent) to 1,629.43.
Total trade volume in the local bourse reached 1.06 billion shares amounting to PHP5.68 billion.
Advancers topped decliners at 140 to 59, with 37 listed firms with no change.
“Local and regional equities went on a relief rally as the Fed announced a widely anticipated 50 bps (basis points) rate hike during its policy-setting meeting yesterday,” said Regina Capital Development Corporation (RCDC) head of sales Luis Limlingan.
With the tempered rate hike of the United States’ central bank, the peso also strengthened against the US dollar on Thursday.
The local currency closed at 52.39 from the previous trading of 52.5 to a dollar, gaining 11 centavos.
It opened the day slightly better at 52.38 from Wednesday’s kick-off at 52.43 to a dollar.
The currency pair traded between 52.23 and 52.43, bringing the average level for the day at 52.33 to a US dollar.
The total amount traded on Thursday reached USD907.5 million, lower than last day’s volume of USD1.34 billion. (PNA)
