Manila: A possible meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea later this month has lifted investors' sentiment, further boosting the Philippine Stock Exchange index (PSEi), while the peso closed steady on Tuesday.

According to Philippines News Agency, the local bourse's main index rose by 0.39 percent to 6,076.22 points, with the All Shares index increasing by 0.36 percent to 3,668.63 points. Most sectoral gauges also registered gains, led by Mining and Oil, which rose 2.41 percent. Industrial followed with an increase of 0.89 percent, along with Holding Firms at 0.77 percent, Financials at 0.70 percent, and Property at 0.65 percent. The only decliner was the Services index, which fell by 1.11 percent.

Trading volume reached 3.17 billion shares, amounting to PHP6.2 billion. Advancers outnumbered decliners at 102 to 87, while 62 shares remained unchanged. Luis Limlingan, Regina Capital Development Corp. head of sales, noted that the PSEi extended its gains as trade uncertainties between the US and China eased. This change came after the US expressed its intention to meet with Chinese officials in South Korea, which boosted investor sentiment and drove the day's market session. This meeting is scheduled during the Asia-Pacific Economic Cooperation forum hosted by South Korea.

Meanwhile, the peso remained stable, ending the day's trade at 58.21 against the US dollar, compared to its 58.24 close on Monday. It opened the day flat at 58.22 and traded between 58.30 and 58.15, with the day's average standing at 58.21. The trading volume decreased to USD1.52 billion from the previous day's USD1.66 billion.