Philippine stocks up 0.06%, peso strengthens vs USD

Both the Philippine stock market and the peso ended positively for three consecutive trading days, with local shares inching up by 0.06 percent to reach 6,539.02 points on Thursday.

All sectors in the PSE closed higher except Services and Holding Firms, which slipped slightly.

Property had the most improvement at 0.87 percent, followed by Financials (0.41%), Industrial (0.08%), and Mining and Oil (0.05%).

The Philippine peso strengthened to 57.97 against the US dollar on Thursday from a close of 58.45 on Dec. 23.

Philstock Financials research manager Japhet Tantiangco attributed the positive performance to last-minute bargain hunting and hopes for an early-2025 rate cut by the BSP, along with positive cues from Wall Street.