PSEi rises but peso weakens on pandemic concerns
On Thursday, Jun 18, the Philippine Stock Exchange index (PSEi) rose by 1.06 percent while the peso weakened.
The PSEi gained 66.44 points to end at 6,348.45 points, with all sectors except Mining and Oil and Services showing gains.
Volume in shares was higher than the previous day's total, reaching PHP10.44 billion.
Investors were cautious due to concerns about a potential resurgence of the pandemic in some US states and China, despite hopes for economic recovery as businesses reopen.
On Wednesday, Jun 17, both the peso and PSEi closed nearly unchanged with the PSEi finishing at 6,282.01 points.
Most sectoral indices declined except Holding Firms which posted a slight gain.
Volume in shares was lower than Tuesday's total, amounting to PHP8.1 billion.
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