Philippine stocks rise, peso weakens amid global recovery hopes
On Thursday, May 28, the Philippine Stock Exchange index (PSEi) rose for the second consecutive day, ending at 5,570.22 points with a gain of 0.84 percent.
The All Shares index also increased by 0.59 percent.
Most sectoral indices gained, led by Financials up 2.69 percent and Property up 1.38 percent, while Mining and Oil declined by 1.07 percent.
Volume totaled PHP4.47 billion in shares traded.
Despite optimism about reopening economies post-COVID-19, the peso weakened slightly to 50.69 from 50.68 on Wednesday.
On Wednesday, May 27, PSEi rose by 0.49 percent amid news of developing drugs against COVID-19 and positive signs of global economic recovery.
Sectoral gauges were mostly up with Mining and Oil leading at 2.95 percent, while Services fell by 0.29 percent.
Volume totaled PHP5.48 billion in shares traded on Wednesday.
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