Philippine stocks rise above 6,400 on US-UK trade deal

The Philippine stock market closed above the 6,400 level on Friday, boosted by a US-UK trade deal framework and positive investor sentiment.

The benchmark Philippine Stock Exchange index (PSEI) rose by 1.08 percent to close at 6,458.20 points, while the All Shares index increased by 0.6 percent.

Philstocks Research attributed the market's advance to spillovers from Wall Street and hopes for further monetary policy easing in the Philippines.

Trading volume expanded to P7.54 billion, with all counters except mining and oil closing positively.

Holding firms led gains, rising by 2.75 percent, while ICTSI remained the top traded stock despite a slight decline.