MANILA – The local bourse and currency both closed mid-week trading stronger.
On Wednesday, the Philippine Stock Exchange index (PSEi) halted a two-day decline and closed at 6,619.09, or 0.19 percent higher than Tuesday’s finish, following the performance of Asian stock markets.
All Shares, likewise, improved by 0.28 percent to 3,597.71 points.
Philstock Financials, Inc. research associate Claire Alviar said the bargain hunters supported the local index’s trading.
“Investors were also awaiting the Federal Reserve's meeting to gauge the future direction of interest rates and to know how dovish the Fed's stance might be,” Alviar added.
Except for Property, which declined by 1.24 percent, all counters ended in the green territory.
Winners led losers at 92 to 86, with 63 listed firms maintaining their shares.
Meanwhile, the Philippine peso further strengthened, closing at 58.37 to the US dollar from Tuesday’s finish of 58.65.
The peso appreciated by 0.28 against the dollar.
The day’s exchange rate ranged from 58.35 to 58.58, bringing the average to 58.49 to the greenback.
Trade volume rose to USD1.3 billion from USD1.23 billion the previous day. (PNA)
