PSEi closes above 6400, up 0.89% on improved sentiment

The Philippine Stock Exchange Index (PSEi) closed above 6400 for the week, rising by 0.89 percent to end at 6,411.86 on Friday.

Investor sentiment improved after Fitch reaffirmed the country's BBB rating with a stable outlook and amid easing trade tensions.

The Services sector led the gains, while volume was strong at 706 million shares worth P6.86 billion as losers slightly outnumbered gainers by 104 to 97.

Regina Capital Development Corporation Managing Director Luis Limlingan noted that positive US earnings from major tech firms and easing trade tensions lifted investor sentiment but cautioned against weak economic data, including a contraction in GDP.

Philstocks Financial Research Manager Japhet Tantiangco highlighted the strengthening of the Philippine peso against the US dollar as another factor supporting market gains.