PSEi climbs for fourth straight day amid stimulus hopes

The Philippine Stock Exchange index (PSEi) rose for the fourth consecutive day, increasing by 1.05 percent, or 66.04 points, to close at 6,344.63 points on Thursday.

The All Shares index also saw a gain, increasing by 0.74 percent, or 27.90 points, to 3,788.75 points.

Most sectoral gauges increased, led by Property with a 2.73 percent rise, followed by Industrial (1.50 percent), Holding Firms (0.98 percent), and Mining and Oil (0.64 percent).

However, the Financials sector fell by 0.83 percent and Services by 0.42 percent.

Trading volume totaled 1.28 billion shares amounting to PHP9.81 billion, with 112 losers outnumbering 100 gainers.

The local currency finished the day at 48.6 against the US dollar, trading between 48.61 and 48.55.

Market sentiment was buoyed by optimism for a new US stimulus package, despite reports of rising global Covid-19 infections and increased US-China tensions.