Makati city: The local bourse started the week on a positive note amidst uncertainties overseas, but the Philippine peso depreciated against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 1.01 percent to 6,525.04 points, and the broader All Shares by 0.52 percent to 3,832.36 points.

According to Philippines News Agency, Mining and Oil led the sectors with a jump of 2.96 percent and was followed by the Holding Firms, 2.19 percent; Property, 0.97 percent; Services, 0.33 percent; Industrial, 0.21 percent; and Financials, 0.10 percent. Volume reached 2.96 billion shares amounting to PHP6.5 billion. There were 97 advancers and decliners each at the end of the trade, while 67 were unchanged.

Luis Limlingan, Regina Capital Development Corporation head of sales, noted that investors in the Philippines shrugged off the latest development regarding the tariffs of the Trump administration. Among the latest tariff news from the US is the 35 percent imposed on Canada's exports, with the possible broader tariffs increases. Limlingan explained that heightened trade tensions soured market sentiment, as investors reacted to the new tariffs and the looming threat of more global duties. With tariff issues and a forecast of a surplus in the latter part of this year, oil prices in the international market rose by over 1 percent, he said.

Despite the positive sentiment in the local bourse, the peso weakened to 56.63 to a greenback from its 56.47 finish Friday last week. It opened the day sideways at 56.6 and traded between 56.72 and 56.56. The average level for the day stood at 56.64. Volume also declined, ending the day at USD1.16 billion from USD1.22 billion previously.