Manila: The Philippine Stock Exchange index (PSEi) rebounded on Thursday after several days of losses driven largely by concerns over the ongoing Middle East crisis, although the Philippine peso weakened against the U.S. dollar. The local bourse's benchmark index climbed 1.15 percent to 6,015.03, while the broader All Shares index advanced 0.97 percent to 3,393.57.

According to Philippines News Agency, most sectoral indices ended higher, led by Mining and Oil, which surged 2.45 percent. Financials and Holding Firms both gained 1.65 percent, followed by Services at 1.02 percent and Property at 0.66 percent. Industrial was the lone decliner, slipping by 0.05 percent.

Trading volume remained thin at 442.7 million shares valued at PHP5 billion. Advancers outpaced decliners, 98 to 85, while 65 issues were unchanged. Rizal Commercial Banking Corporation chief economist Michael Ricafort said the PSEi's recovery was partly driven by easing tensions in the Middle East, gains in U.S. stock markets and foreign net buying.

Meanwhile, the local currency weakened to 61.64 against the U.S. dollar from 61.38 in the previous session. The peso opened stronger at 61.35, compared with the previous session's opening of 61.48. It traded between 61.35 and 61.66, with the day's average settling at 61.49. Dollar trading volume reached USD1.58 billion, lower than the previous day's USD1.8 billion.