MANILA – The local bourse main index rebounded on Monday amidst the geopolitical concerns overseas while the peso finished the trade sideways against the US dollar.
The Philippine Stock Exchange index (PSEi) rose by 1.37 percent, or 98.78 points, to 7,311.01 points.
All Shares followed with a jump of 1.20 percent, or 46.24 points, to 3,889.09 points.
Property led the sectoral gauges with an increase of 4.06 percent, and was trailed by the Mining and Oil, 2.77 percent; Industrial, 2.43 percent; Holding Firms, 0.72 percent; and Financials, 0.11 percent.
Services is the only index that finished the day in the negative territory after it slipped by 0.12 percent.
Volume reached 2.11 billion shares amounting to PHP11.61 billion.
Advancers led decliners at 108 to 79, while 49 shares were unchanged.
“Philippine shares were bought up as funds realigned with the latest results of the MSCI (Morgan Stanley Capital International) rebalancing, while others continued to assess the financial risks stemming from Russia’s invasion of Ukraine,” said Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales.
On the local front, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (AITF-EID) placed the National Capital Region (NCR) and 38 other areas nationwide under Alert Level 1 from March 1 to 15, which provides no restrictions in terms of indoor and outdoor capacities, among others.
The public, however, is still reminded to follow minimum public health standards.
Meanwhile, the local currency ended the day sideways at 51.27 from 51.34 close last Friday.
It opened the day at 51.39, weaker than the previous session’s 51.18 start.
It traded between 51.42 and 51.265. Average level for the day stood at 51.385.
Volume declined to USD780.5 million from USD1.16 billion at the end of last week. (PNA)
