PSEi up 1% as January inflation eases

The Philippine Stock Exchange Index (PSEi) closed up 1 percent on Friday, finishing at 7,456.35 points, following a decrease in January inflation to 3 percent from December's 3.2 percent.

This positive trend was driven by the slower growth of basic goods and service prices, allowing the Bangko Sentral ng Pilipinas (BSP) more flexibility with its monetary policies.

Despite gains in local stocks, the Philippine peso weakened due to rising international oil prices.

Sector-wise, Mining and Oil led gains at 1.99 percent, followed by Holding Firms (1.64 percent), Property (1.63 percent), and Industrial (0.58 percent).

Financials and Services were the only sectors that declined slightly.