PNA graphics
MANILA – The local bourse extended its winning streak climbing to 6,600 level on Thursday as investors focused on corporate earnings, while the peso slightly slipped.
The Philippine Stock Exchange index (PSEi) ended at 6,613.50, gaining 71.59 points.
All shares improved by 25 points to 3,515.91 level.
"Philippine shares climbed higher again, buoyed by stronger-than-expected 2Q23 (second quarter 2023) earnings results locally and regionally. The latter (is) creating optimism for a soft landing for the economy," Regina Capital Development Corp. Luis Limlingan said.
Limlingan said the Department of Tourism's foreign tourist arrivals report of over 3 million tourists in the first half of the year boosted the confidence in the local market.
Of all the counters, only the Services sector ended in the red, which declined by 4.25 points to 1,581.80.
Leading the gainers was Holding Firms which increased by 68.39 points to 6,437.84; followed by Mining and Oil, 49.09 points to 10,011.44; Industrial, 40.76 points to 9,317.58; Financials, 35.86 points to 1,927.90; and Property, 34.16 points to 2,687.90.
Volume of shares traded within the day reached 518.55 million, amounting to PHP4.52 billion.
Advancers outnumbered losers at 99 to 81, with 44 firms left unchanged.
Meanwhile, the peso closed almost unchanged to 54.52 to a dollar on Thursday from 54.51 finish in the previous day.
The local currency opened the day weak at 54.55 from last day's kick off at 54.45.
The currency pair traded between 54.37 and 54.56 against the greenback, bringing the average level at 54.46.
Volume of trade further increased on Thursday to USD1.14 billion from USD1.05 billion on Wednesday. (PNA)
