MANILA – Volatility allowed the main equities index to recover on Thursday after days of negative close, but the peso turned the other way and depreciated against the US dollar.
The Philippine Stock Exchange index (PSEi) rose by 0.66 percent, or 45.54 points, to 6,909.45 points.
It was tracked by all the other counters, with All Shares up by 0.47 percent, or 17.15 points, to 3,677.48 points.
Mining and Oil led the sectoral counters with an increase of 1.27 percent and was trailed by Financials, 1.04 percent; Holding Firms, 0.70 percent; Services, 0.69 percent; Industrial, 0.56 percent; and Property, 0.05 percent.
Volume totaled to 8.5 billion shares amounting to PHP5.73 billion.
Advancers led decliners at 92 to 83, while 58 shares were unchanged.
“Philippine shares rose to recover some previous losses, as concerns over inflation and global economic growth stirred up further volatility across risk assets,” said Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales.
Meanwhile, the local currency depreciated against the US dollar and finished the day at 52.27 from the previous session’s 52.12.
It opened the day at 52.15, way better than its 52.35 start in the previous session.
It even improved to 51.96 mid-trade but also weakened to 52.27.
The average level for the day stood at 52.158.
Volume totaled to USD1.6 billion, lower than Wednesday’s USD1.65 billion. (PNA)