Manila: The local stock barometer rebounded on late-session bargain hunting Tuesday despite cautious trading fueled by slow remittance growth, while the peso slipped against the United States dollar. The Philippine Stock Exchange index (PSEi) rose 0.05 percent to 6,264.70, while the broader All Shares index gained 0.23 percent to 3,440.82.

According to Philippines News Agency, most sectoral gauges also climbed, led by Mining and Oil, which inched up 1.58 percent; Industrial, 0.78 percent; Property, 0.43 percent; and Services, 0.03 percent. Conversely, Holding Firms and Financials dropped by 0.18 percent and 0.07 percent, respectively. Volume reached 1.41 billion shares, amounting to PHP5.8 billion. Decliners led advancers at 102 to 100, while 53 shares were unchanged.

'The local index ended higher following late-session buying pressure on select index names. Trading remained cautious for most of the session amid news of weaker remittance growth and softer Wall Street performance,' Luis Limlingan, Regina Capital Development Corporation head of sales, said. Limlingan said the 'late buying in select index heavyweights helped lift the market into positive territory.'

Meanwhile, the local currency finished the day at 61.78, weaker than its 61.49 close the previous day. It opened at 61.63, depreciating from its 61.55 start in the previous session. The peso traded between 61.79 and 61.57, bringing the day's average to 61.65. Trading volume reached $1.34 billion, up from $1.19 billion in the previous session.