PSEi up 2.27%, All Shares rise 1.58% on BSP policy easing

The Philippine Stock Exchange index (PSEi) closed Monday with a gain of 2.27 percent at 7,417.25 points, while the All Shares index rose by 1.58 percent.

Financials led other sectoral indices in closing higher, increasing by 3.69 percent, although miners edged lower by 0.01 percent.

Philstock Financial senior research analyst Japhet Tantiangco attributed the positive performance to the Bangko Sentral ng Pilipinas' (BSP) recent reduction of banks' reserve requirement ratios and monetary policy easing prospects from both the BSP and the Federal Reserve, which boosted liquidity.

The Philippine peso closed slightly weaker at 55.97 against the US dollar compared to Friday's close of 55.69, but traded within a range of 55.67 to 55.97 with an average level of 55.795 for the day.

Trade volume decreased from USD1.6 billion on Friday to USD1.3 billion on Monday.