Manila: Local shares went up on Friday, boosted by a calmer external backdrop, while the peso also closed stronger against the dollar. The Philippine Stock Exchange index (PSEi) rose 1.23 percent to close at 6,408.27, while All Shares also went up by 0.84 percent to 3,792.06.

According to Philippines News Agency, most of the sectoral indices recorded gains, with Property, Holding Firms, and Services recording the biggest increase. However, the Mining and Oil sector fell by 1.84 percent. Regina Capital Development Corp. head of sales Luis Limlingan stated, "The PSEi rose as investors picked up bargains across key sectors, supported by a calmer external backdrop and stable domestic conditions." Advancers led decliners at 129 to 63.

The peso, meanwhile, strengthened by closing at 56.57 to a dollar from the 56.61 finish on Thursday. It opened at 56.65 and traded between 56.45 to 56.71, bringing the day's weighted average to 56.58. The volume of trade slightly increased to USD1.57 billion from USD1.56 billion.