Philippine News Agency
Stocks, peso sustain rise
The Philippine Stock Exchange index (PSEi) rose 1.24 percent, or 68.99 points, to 5,643.97 points on Wednesday, driven by optimism over the potential reopening of economies globally.
All sectoral gauges finished the day on a positive note, with Property leading the gains, followed by Mining and Oil, Services, Holding Firms, Industrial, and Financials.
The peso also strengthened against the US dollar, closing at 50.51 from 50.67 the previous day.
Investor sentiment was buoyed by various countries, including France and Spain, outlining plans to ease lockdown restrictions.
Market watchers attributed the positive close to global economic reopening sentiments and awaited the Federal Open Market Committee's policy decision announcement.
Trading volume for the PSEi totaled 584.34 million shares amounting to PHP4.54 billion, with gainers outnumbering losers.
Volume for the peso also rose to USD498.5 million from the previous day's USD368.53 million.
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