Manila: Investors' sentiment remains up a day after another 25 basis points reduction in the Bangko Sentral ng Pilipinas' (BSP) key rates, resulting in the positive close of the local bourse main index Friday, but the peso slightly weakened against the US dollar. The Philippine Stock Exchange index (PSEi) gained 0.78 percent to 6,036.72 points, but the broader All Shares slipped by 0.54 percent to 3,434.94 points. All the sectoral gauges tracked the main index, led by Mining and Oil after it rose 1.95 percent. Property followed with a jump of 1.46 percent, as well as Financials, 1.05 percent; Industrial, 0.97 percent; Holding Firms, 0.35 percent; and Services, 0.14 percent. Volume of trade reached 1.68 billion shares, amounting to PHP7.28 billion. Decliners led advancers at 96 to 92, while 57 shares were unchanged.

According to Philippines News Agency, Philstocks Financials Inc., in a market report, said investors continue to cheer the latest BSP rate reduction, 'which is seen to somehow help in re-accelerating the Philippines' economic growth.' On the other hand, the local currency depreciated to 59.06 against the US dollar from its 58.99 close a day ago. It opened the trade at 58.98, better than its 59.12 start in the previous session. It traded between 58.95 and 59.15, bringing the average to 59.09. Volume reached USD1.65 billion, lower than Thursday's nearly 1.7 billion.