Manila: Sentiments remained on wait-and-see on Friday, but the Philippine Stock Exchange index (PSEi) ended the week up after days of decline, tracking US counterparts, which was mirrored by the local currency. The main stock index rose 0.13 percent to 6,303.72 points, and the broader All Shares, by 0.35 percent to 3,736.28 points.
According to Philippines News Agency, half of the sectoral counters also gained during the day, with Financials rising 1.77 percent, Industrial 0.67 percent, and Property 0.07 percent. On the other hand, Holding Firms shed 0.67 percent, Mining and Oil 0.38 percent, and Services 0.35 percent. Volume reached 1.66 billion shares, amounting to PHP8.43 billion. Decliners led advancers at 104 to 93, while 53 shares were unchanged.
Luis Limlingan, Regina Capital Development Corp. head of sales, said investors remained cautious because of tariff worries, but block sales pushed the local bourse's main index up. 'Investors remained careful about the potential updates on tariffs as the negotiations will take place early next week,' he said.
The PSEi's positive close was tracked by the local currency, which closed the week at 57.14 against the US dollar, better than Thursday's 57.29. It opened the day up at 57.25 and traded between 57.25 and 57.06, averaging at 57.17. Volume reached USD1.31 billion, lower than the previous day's USD 1.93 billion.