Manila: The Philippine Stock Exchange index (PSEi) regained its footing Wednesday, while the peso ended flat against the US dollar. The local bourse's main index rose 0.39 percent to 6,079.02 points, and the broader All Shares by 0.21 percent to 3,459.45 points. Most of the sectoral gauges also ended the day up, led by Services after it rose 1 percent. It was trailed by Holding Firms, 0.88 percent; Mining and Oil, 0.58 percent; Industrial, 0.34 percent; and Financials, 0.26 percent. Only the Property index finished in the negative territory after it slipped by 1.30 percent.
According to Philippines News Agency, volume reached 1.56 billion shares amounting to PHP5.99 billion. Advancers led decliners at 97 to 88, while 59 shares were unchanged. 'The Philippine market rose as market players took advantage of bargain prices following yesterday's decline. The peso's appreciation against the US dollar also supported the market,' Luis Limlingan, Regina Capital Development Corporation head of sales, said in a report.
On the other hand, the local currency was almost unchanged against the US dollar after ending the day at 58.72. It opened stronger at 58.65 from day-ago's 58.93 start. It traded between 58.73 and 58.65, bringing the day's average to 58.64. Volume of trade reached USD1.34 billion, lower than day-ago's USD1.46 billion.
