PSEI rises slightly as investors await Q3 results

On Tuesday, the Philippine Stock Exchange index (PSEI) saw a slight increase to 7,413.16 as investors remained cautiously optimistic about third quarter financial results and anticipated central bank policy easing.

The All Shares index rose by 0.13 percent to 4,085.50, with the Services and Industrial sectors leading gains at 1.21 percent and 0.69 percent respectively.

However, some sectors like Financials (-0.50 percent), Property (-0.41 percent), Holding Firms (-0.30 percent), and Mining and Oil (-0.16 percent) closed in the red.

Philstock Financials' research manager Japhet Tantiangco attributed the gains to positive Q3 corporate results expectations, though these were tempered by rising US treasury yields and a weakening local currency.

The Philippine peso also weakened further, closing at 57.88 against the US dollar compared to Monday's rate of 57.59.