Manila: Positive investor confidence sustained the rise of the Philippine Stock Exchange index (PSEi) Friday, and the local currency managed to stay afloat against the greenback.

According to Philippines News Agency, the main stocks gauge rose 0.50 percent to 6,264.49 points, and the All Shares by 0.17 percent to 3,740.81 points. Half of the sectoral gauges also ended the week with gains, namely Financials, 2.01 percent; Services, 0.49 percent; and Holding Firms, 0.10 percent. On the other hand, Industrial fell 0.60 percent; Property, 0.47 percent; and Mining and Oil, 0.12 percent.

Volume reached 2.1 billion, amounting to almost PHP14.3 billion. Decliners, however, outpaced the advancers at 105 to 93, while 57 shares were unchanged. Luis Limlingan, Regina Capital Development Corporation head of sales, said, "the market was lifted by continued buying pressure driven by positive economic developments, reflecting improved investor confidence." He added that steady capital inflows from both local and foreign investors provided further support to overall market momentum, and the sentiment that the US Federal Reserve will maintain its accommodative stance has given investors a reason to re-engage with equities.

The local currency managed to end the week's trade sideways against the US dollar, amidst some weakness, at 57.15 from 57.06 a day ago. It opened the day sideways at 57.2 and traded between 57.25 and 57.08. The average for the day stood at 57.16. Volume went down to USD1.3 billion from the previous day's USD1.55 billion.