PH stocks rise but peso weakens

The Philippine Stock Exchange index (PSEi) gained on Wednesday due to positive sentiments from Wall Street, increasing by 1.32 percent.

All Shares rose by 0.74 percent and most sectoral gauges also increased, with Property leading the gains at 3.02 percent.

Despite the stock market's performance, the peso weakened against the US dollar, finishing at 51.045 from 50.95 on Monday due to the Chinese New Year holiday.

On Monday, the PSEi and the peso both rose as investors became optimistic about economic developments locally and abroad, with the PSEi increasing by 1.51 percent and the peso strengthening to 50.95 against the US dollar.