Manila: Profit-taking further bolstered the Philippine Stock Exchange index (PSEi) Friday, also benefiting the Philippine peso. The local bourse's main index ended the week up by 1.01 percent to 6,286.70 points, and the broader All Shares by 0.68 percent to 3,393.34 points.

According to Philippines News Agency, all the sectoral gauges finished with gains, led by the Mining and Oil sector after rising 2.32 percent. It was followed by gains in the Property sector at 1.24 percent; Financials at 0.97 percent; Services at 0.77 percent; Holding Firms at 0.76 percent; and Industrial at 0.66 percent. The volume of shares traded reached 1.19 billion, amounting to PHP9 billion, with advancers leading decliners at 102 to 82, while 61 shares remained unchanged.

The local market closed higher on the last trading day of the week as investors resumed their bargain hunting, taking cues from Wall Street's overnight rally. US President Donald Trump's statement suggesting that Iran had reached out to the US to negotiate a deal helped ease worries over tensions between the two countries, as noted by Philstocks Research in a report.

Relatively, the Philippine peso appreciated against the US dollar, closing the day at 61.51 from its previous 61.60 finish. It began the day at a stronger level of 61.57, improving from 61.62 on Thursday, and traded between 61.6 and 61.48, with an average of 61.52. The trading volume rose to USD 1.43 billion from the previous day's USD1.26 billion.