Manila: Bargain-hunting lifted the Philippine Stock Exchange index (PSEi) on Monday, even as fresh military actions between the United States and Iran drove up global oil prices and weakened the peso. The local bourse's main index rose 0.18 percent to 6,415.72 points, and the broader All Shares by 0.19 percent to 3,450.69 points.

According to Philippines News Agency, most of the sectoral gauges finished in negative territory, except for Mining and Oil, which rose by 3.86 percent, and Services, which increased by 2.23 percent. Property led the losers with a drop of 1.46 percent, followed by Holding Firms, which fell by 0.82 percent; Industrial, down by 0.57 percent; and Financials, which decreased by 0.39 percent. Trading volume was thin at 537.02 million shares amounting to PHP6.69 billion.

Philstocks Research indicated that a buying spree for information and communications technology stocks primarily boosted the PSEi during the day. "Bargain hunting with hopes of satisfactory Q2/H1 (second quarter/first half) corporate results also helped in the rise," it stated, noting that gains were trimmed in the latter half of the day amid concerns over the US-Iran conflict and its impact on oil prices.

Meanwhile, the local currency depreciated against the US dollar, closing the day at 61.68 from its 61.48 close last Friday. It opened the day weaker at 61.65 compared to its 61.59 start in the previous session. The peso traded between 61.71 and 61.65, bringing the day's average to 61.69. Trading volume slipped to USD670.5 million from nearly USD1.1 billion at the end of last week.