Manila: Bargain-hunting lifted the Philippine Stock Exchange index (PSEi) on Wednesday as buying interest resumed, which also benefited the Philippine peso. The local bourse's main index rose 0.74 percent to 6,302.50 points, and the broader All Shares by 0.55 percent to 3,398.45 points.

According to Philippines News Agency, financials led the sectoral gauges in tracking the main index after it rose 1.13 percent, and was trailed by Services, 0.67 percent; Property, 0.58 percent; Industrial, 0.48 percent; and Holding Firms, 0.36 percent. Only Mining and Oil ended in the red, dipping 0.61 percent.

Volume was thin at 620.68 million shares, amounting to PHP4.3 billion. Advancers led decliners at 96 to 88 while 63 shares were unchanged. 'The local bourse ended higher after two consecutive days of losses as bargain hunting lifted market sentiment. Buying interest re-emerged, with investors selectively accumulating blue-chip stocks following the recent pullback,' said Luis Limlingan, Regina Capital Development Corp. head of sales. He noted that 'gains were supported by improved risk appetite tracking global markets, although overall trading remained thin.'

Relatively, the local currency improved against the US dollar and closed the day at 61.68 from the previous day's 61.71. It opened the day at 61.6, better than its 61.68 start in the previous session. It traded between 61.69 and 61.57, bringing the day's average to 61.65. Volume reached USD1.15 billion, higher than the previous day's USD995.28 million.