Philippine stocks rise; peso steady vs dollar

On Wednesday, the Philippine Stock Exchange index (PSEi) rose by 1 percent to 7,299.70 points while the peso closed almost unchanged against the US dollar at 48.066.

The Mining and Oil sector led gains with a 1.70% increase, followed by Holding Firms, Property, Industrial, and Financials sectors.

Volume in shares traded was PHP9.31 billion, with gainers outnumbering losers 133 to 90.

On Tuesday, the PSEi fell by 0.74 percent to 7,227.73 points amid concerns over US stimulus measures and vaccine distribution.

The Holding Firms sector saw the biggest drop at 1.13%, while Financials was the only gainer with a 0.05% increase.

Volume in shares traded on Tuesday was PHP10.13 billion, with decliners outnumbering advancers 128 to 95.