Manila: Local shares went up for the second consecutive day due to market optimism ahead of Thursday's inflation report, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) closed at 6,412.86, higher by 0.95 percent, while All Shares also rose 0.74 percent to 3,770.95.

According to Philippines News Agency, except for Financials which slightly declined by 0.06 percent, all sectors went up. "Philippine shares broke past the 6400 market once again driven by broad market optimism ahead of Thursday's inflation report from last month," Regina Capital Development Corp. head of sales Luis Limlingan, said. Winners and losers were almost equal at 103 to 102.

The peso, meanwhile, closed at 55.72 to a dollar from 55.7 the previous day. It opened at 55.62 and traded between 55.6 to 55.75. The weighted average of the day stood at 55.68. Volume of trade went up to USD1.64 billion from USD1.38 billion.