Manila: The Philippine Stock Exchange index (PSEi) sustained its rise for the second consecutive day Thursday, but the Philippine peso corrected against the U.S. dollar. The local bourse's main index rose 0.19 percent to 6,407.15 points, and the broader All Shares by 0.15 percent to 3,547.32 points.

According to Philippines News Agency, most of the sectoral indices tracked the main index, led by the Mining and Oil after it rose 3.76 percent. It was followed by the Industrial, which increased by 1.20 percent; Holding Firms, by 0.60 percent; and Financials, by 0.06 percent. On the other hand, the Property index declined by 0.86 percent and Services by 0.06 percent.

Volume reached 927.7 million shares, amounting to PHP5.26 billion. Advancers led decliners at 119 to 89, while 55 shares remained unchanged. Meanwhile, the local currency weakened to 57.99 to a U.S. dollar from its 57.86 close Wednesday. It opened the day at 57.88, stronger than its 57.94 start in the previous session, trading between its opening level and 58, with the day's average at 57.96.

Volume reached USD1.6 billion, higher than the previous day's USD1.05 billion. Rizal Commercial Banking Corporation chief economist Michael Ricafort, in a report, traced the peso's performance to the widely expected 25 basis points cut in the Bangko Sentral ng Pilipinas' (BSP) key rates during the day. He noted that the statement issued after the BSP decision is 'less hawkish' since it dropped 'the previous statement that the BSP may be near the end of its monetary easing cycle.'

This, he said, 'could still signal possible future BSP rate cuts, especially if the (US) Fed (Federal Reserve) cuts rates later in 2026.'