Local shares rise; PSEi up 1.68%, peso weakens

Local shares rose on Tuesday, driven by positive sentiment from US equities and the peaceful conduct of midterm elections.

The Philippine Stock Exchange index (PSEi) increased by 1.68 percent to 6,566.82, while All Shares climbed by 1.13 percent to 3,805.33.

Regina Capital Development Corp.'s head of sales, Luis Limlingan, attributed the positive market performance to eased trade tensions following a US-China tariff reduction deal.

Almost all sectors ended the day in positive territory, with Mining and Oil being the only exception, declining by 1.34 percent.

The Philippine peso weakened to P55.795 against the US dollar at the close of Tuesday's trading, reflecting market dynamics influenced by global trade relations.

Volume of trade reached USD1.88 billion, indicating robust market activity.