PSEi rises 0.48%, AMRO projects Philippines as 2nd fastest-growing in SEA

On Thursday, January 23, 2025, local shares continued to improve with the Philippine Stock Exchange index (PSEi) rising by 0.48 percent to 6,378.86 points and All Shares increasing by 0.18 percent.

The market performance was influenced by positive cues from Wall Street and AMRO's projection of the Philippines as the second fastest-growing economy in Southeast Asia this year.

Most sectors closed in the green territory, led by Financials (up 1.14%), Holding Firms (up 1%), Mining and Oil (up 0.94%), and Industrial (up 0.14%).

Losers outnumbered winners with 107 stocks declining compared to 95 gaining, while trade volume decreased slightly to USD1.27 billion from USD1.6 billion on Tuesday.

Despite the overall gain, the Philippine peso weakened against the dollar, ending at 58.69 compared to 58.51 the previous day.