Investors were optimistic on this week's closing, brushing aside the higher inflation for September, while the Philippine peso closed sideways.
The Philippine Stock Exchange index (PSEi) ended the day gaining 81.35 points but still failed to reach the 6,300-mark, as it closed at 6,259.95 level.
All shares also improved by 30.52 points to 3,379.27, with all counters finishing in the green territory.
The biggest gainer on Friday was Mining and Oil, with shares climbing by 240.01 points to 10,841.29.
'Philippine shares bounced back as investors brushed aside the inflation data, and looked forward to developments ahead. In response, the government removed the price control on rice and started distributing rice to l families,' Regina Capital Development Corp. head of sales Luis Limlingan said.
He added that investors turned their focus on the deficit outlook of Fitch Solutions unit BMI for the Philippines in 2023 from 6.4 percent to 5.9 percent of gross domestic product, and further narrowing to 5.1 percent next year.
Meanwhile, the peso finished sideways at 56.62 against the US dollar from the previous day's closing of 56.67.
It opened the day at 56.64 and traded between a low of 56.56 and a high of 56.66, bringing the average level at 56.62 to the greenback.
Volume traded decreased to USD1.08 billion from USD1.23 billion on Thursday.
Source: Philippines News Agency
