Manila: The local bourse's main index concluded the week on a positive trajectory, continuing its upward trend due to ongoing bargain-hunting, while the Philippine peso appreciated against the US dollar.

According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) experienced its third consecutive day of gains, closing Friday at 5,997.13 points, marking a 1.12 percent increase. The All Shares index also saw a rise, climbing by 2.50 percent to finish at 3,418.52 points. The upward movement was reflected across most sectoral gauges, with notable increases in Holding Firms, which rose by 2.18 percent, followed by Property at 1.48 percent, Services at 0.65 percent, Financials at 0.46 percent, and Industrial at 0.34 percent. Conversely, the Mining and Oil index was the only sector to decline, falling by 1.29 percent.

The trading volume reached 1.67 billion shares, with a total value of PHP9.15 billion. The market saw 118 stocks advancing, 75 declining, and 53 remaining unchanged. Philstocks Financial, Inc. highlighted in a market report that, alongside bargain-hunting, investors were also responding to the Philippines' balance of payment position from October, which recorded a surplus of USD706 million.

The Philippine peso also demonstrated gains, ending the week at 58.85 against the US dollar, an improvement from Thursday's close of 59.06. The peso opened the day at 59.05, trading within a range of 58.81 to 59.10, and averaged at 58.97. The volume of trade increased to USD1.68 billion, surpassing the previous session's USD1.08 billion.