PSEi closes up 0.52% at 6,325.64 on truce

The Philippine Stock Exchange Index (PSEi) opened higher and closed up by 0.52 percent at 6,325.64 on Wednesday, following a fragile ceasefire between Israel and Iran.

Luis Limlingan from Regina Capital Development Corp. noted that despite mutual accusations of violations, positive behavior in US equities overnight has spurred investor optimism, with Brent crude tumbling 6.10 percent to USD67.14 per barrel.

The truce, confirmed by President Trump, prompted gains in the Mining and Oil and Property sectors, which rose by 1.49 percent and 1.94 percent respectively.

Financial and Industrial stocks closed lower while advancers outnumbered decliners at 97 to 83, with volume of trade declining to USD1.55 billion from USD2 billion on Tuesday.

Property firms saw the biggest gain as Ayala Land Inc. (ALI) and SM Prime Holdings Inc. increased their shares, contributing to a broader market optimism.