PSEi rebounds as peso stays flat vs. USD

MANILA, March 30 (PNA) - Philippine Stock Exchange index (PSEi) rebounded Thursday while the peso stayed flat against the US dollar due partly to end-month corporate demand for the greenback.

The main stocks index gained 0.12 percent, or 8.59 points, to 7,332.59 points, which a trader said was boosted by the recovery of heavy weights like those that were into real estate.

All Shares increased by 0.17 percent, or 7.35 points, to 4,411.65 points.

Most of the sectors tracked the main index led by the Industrial with a 1.09 percent hike.

Mining and Oil rose 0.55 percent, Services by 0.12 percent, and Holding Firms by 0.003 percent.

But Property sector fell 0.34 percent and Financials by 0.008 percent.

A total of 864.7 million shares amounting to Php 7.64 billion changed hands.

Decliners led gainers but on a tight level of 92 to 91 while 49 shares were unchanged.

The peso ended the day at 50.20 to a greenback, very close to its 50.19 finish Wednesday.

Its closing level was also the unit's opening for the day, which in turn was also near its 50.24 start in the previous day.

The local currency was traded between 50.21 and 50.17, bringing the day's average to 50.19.

Volume of trade reached USD320.5 million, lower than the USD441.4 million a day ago.

The currency pair is seen to trade between 50.10 and 50.30 Friday. (PNA)


Source: Philippines News Agency