PSEi gains for third day, closes up 0.37%

The Philippine Stock Exchange index (PSEi) closed with gains for a third consecutive day on Wednesday, increasing by 0.37 percent to 6,168.48.

Indices showed mixed performance, with Services and Property sectors posting gains of 2.89 percent and 0.82 percent respectively, while Mining and Oil declined by 2.55 percent.

Regina Capital Development Corp.'s Luis Limlingan attributed the minor gains to investors' optimism despite US-China trade tensions, mirroring the positive movement in the US market.

Despite overall growth, decliners outnumbered gainers at 97 to 92, with 56 stocks unchanged, and Philippine Value turnover net of extraordinary block sales reached PHP7.627 billion.

The Philippine peso strengthened against the US dollar, closing at 56.55 from 56.68 in the previous trading session, while trade volume decreased to USD1.2 billion.