Philippine News Agency
Local shares up anew, peso moves sideways
Local shares on the Philippine Stock Exchange index (PSEi) experienced a slight increase for the second consecutive day, closing at 6,412.86, up by 0.95 percent, while the All Shares index also rose by 0.74 percent to 3,770.95.
Market optimism ahead of Thursday's inflation report influenced the market's upward movement.
All sectors, except for Financials which slightly declined, saw gains.
The peso closed at 55.72 to a dollar, moving sideways from its previous closing rate.
Trading volume for the peso increased to USD1.64 billion from USD1.38 billion.
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Philippine shares declined on Thursday, with the PSEi slipping by 0.02% to 6,376.79, as investors largely adopted a cautious stance ahead of the long weekend and amid sideways trading.
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Philippine shares climbed for a second straight day on Tuesday, with the Philippine Stock Exchange Index (PSEi) rising 0.94% to 6,412.86, driven by broad market optimism ahead of the release of May inflation data.
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The Philippine peso is projected to continue its appreciation against the US dollar until early 2026, driven by declining inflation, anticipated monetary easing by the Bangko Sentral ng Pilipinas, and enhanced trade and investment.
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