PSEi up 0.23% on cautious investor mood, peso weakens

The Philippine Stock Exchange index (PSEi) closed in positive territory on Thursday, rising by 0.23 percent to 6,511.57.

Services and Property sectors led the gains with increases of less than 1 percent each, while Mining and Oil and Financials counters experienced declines of 0.76 percent and 0.44 percent, respectively.

Philstock Financials research manager Japhet Tantiangco attributed the market's performance to investors' caution amid concerns over US inflation as reflected in the Federal Reserve’s latest meeting minutes.

The Philippine peso weakened slightly, trading at 58.50 against the US dollar, a decrease from Wednesday’s closing of 58.40.

Trading volume increased to USD1.83 billion on Thursday compared to USD1.74 billion on Monday.