Manila: The Philippine Stock Exchange index (PSEi) extended its rally for a fourth consecutive trading day on Monday, while the peso weakened slightly against the US dollar. PSEi increased 1.04 percent to 6,145.52 points, with All Shares also improving by 0.17 percent to 3,627.89 level. Only Financials finished in the red territory, with shares declining by 0.51 percent to 2,376. The top gainer for the day was Services, which grew 2.25 percent to 1,957.04. This was followed by Property, up by 1.73 percent; Industrial, up by 1.26 percent; Holding Firms, up by 0.83 percent; and Mining and Oil, up by 0.73 percent.

According to Philippines News Agency, the local market started its shortened trading week on a positive note as investors cheered the US' move to temporarily exempt consumer electronics from its reciprocal tariffs, Philstocks Financial research manager Japhet Tantiangco said. Hopes of further policy easing by the Bangko Sentral ng Pilipinas this year also helped in lifting the market, he added. Winners led losers at 106 to 83, with 49 counters left unchanged.

Meanwhile, the Philippine peso shed 0.11 to the US dollar to close Monday at 57.08 from a 56.97 finish last Friday. The peso opened the day at 56.93 to the dollar before trading between 56.90 and 57.10 to the dollar. Average level for the day stood at 57.03 to the greenback. Trade volume declined to USD1.49 billion from USD1.55 billion last week.