Manila: Both the Philippine Stock Exchange index (PSEi) and the Philippine peso began the week with gains amidst a cautious outlook among investors. The local bourse's main index increased by 0.28 percent, reaching 6,016.03 points, while the broader All Shares index rose by 0.23 percent to 3,382.44 points on Monday.

According to Philippines News Agency, half of the sectoral gauges mirrored the main index's upward movement. Holding Firms advanced by 0.87 percent, Services rose by 0.70 percent, and Mining and Oil increased by 0.44 percent. In contrast, the Industrial sector saw a decline of 0.34 percent, with Property decreasing by 0.26 percent and Financials by 0.14 percent.

The volume of trade was thin, with 685.1 million shares amounting to PHP7.1 billion. Decliners outnumbered advancers, with 105 stocks falling compared to 101 that rose, and 60 shares remained unchanged.

Philstocks Financial Inc. noted in a market report that the local market rebounded as investors sought bargains after last Friday's losses. However, trading remained subdued as investors cautiously monitored developments between the US and Iran.

The Philippine peso strengthened against the U.S. dollar, closing the day at 59.97 compared to its 60.03 close the previous Friday. It began the day at 59.97, an improvement from its 60.09 opening in the prior session, and traded between 59.8 and 60.08, resulting in an average of 59.97. The volume of trade increased to USD1.54 billion from USD1.22 billion at the end of last week.