In observance of the Holy Week, the Philippine News Agency’s online news service will be off on March 29, Good Friday, and March 30, Black Saturday. Normal operations will resume on March 31, Easter Sunday.

— The Editors

PH main equities gauge recovers, Peso holds ground

By Joann Villanueva

April 18, 2018, 7:34 pm

MANILA -- Bargain hunting lifted most of the country's equities indices Wednesday and the Philippine Peso continued to remain sound against the Greenback despite gloomy external developments.

The Philippine Stock Exchange index (PSEi) ended its three-day slide and went up by 0.90 percent, or 69.74 points, to 7,793.13 points.

A trader said investors took advantage of the main index’ recent drop to buy shares after days of losses. PSEi tracked the risk-on sentiment in the US, the same trader added.

The improvement in the main gauge was followed by the All Shares, which ticked-up by 0.52 percent, or 24.62 points, to 4,720.58 points. Most of the sectors also registered gains during the day, led by the Property, 1.47 percent; and followed by the Industrial, 1.14 percent; Financials, 1.12 percent; and the Holding Firms, 0.26 percent.

On the other hand, Mining and Oil and Services fell 1.35 percent and 0.14 percent, respectively. Volume for the day reached 1.1 billion shares amounting to Php7.31 billion. Losers, however, continue to surpass gainers at 107 to 103 while 40 shares are unchanged.

The local currency finished the day at 52.07 from Tuesday’s 52.05, which a trader said is good despite corporates’ mid-month demand for the Greenback. It opened the day flat at 52.05 and traded between its opening level and 52.135, bringing the day’s average to 52.097.

Volume for the day totaled to USD502 million, up from day-ago’s USD427.3 million. The currency pair is seen to trade between 52.00 and 52.30 Thursday. (PNA)

Comments