PSEi gains 0.19% on strong OFW remittances, Services and Holding Firms lead

The Philippine Stock Exchange index (PSEi) started the week positively, gaining 0.19 percent to close at 6,306.19 points on Monday.

All Shares increased by 0.03 percent to 3,722.82 points, with Services and Holding Firms as the top gainers, rising by 1.57 and 0.41 percent respectively.

Mining and Oil was the worst performer among sectoral indices, declining by 0.65 percent, followed by Property, Industrial, and Financials.

The Bangko Sentral ng Pilipinas reported that overseas Filipino remittances in January 2025 increased by 2.9 percent to USD3.24 billion from the previous year, driving the PSEi gains.

Trade volume decreased slightly to USD1.02 billion on Monday from USD1.39 billion on Friday, while the Philippine peso closed flat at 57.30 against the US dollar.