STOCKS UP. The Philippine Stock Exchange index (PSEi) returned to above 6,500 level on Thursday (Dec. 28, 2023). The peso closed at 55.48 to a dollar. (PNA file photo)
MANILA – The local Philippine Stock Exchange index (PSEi) recorded modest gains on Thursday, while the peso moved sideways.
The PSEi gained 56.31 points, closing at 6,519.11, while All Shares also went up by 24.70 points to 3,440.59.
"The index returned above the 6,500 level in thin trading as investor sentiment remained positive about the local market's prospects for 2024," China Bank Capital Corp. managing director Juan Paolo Colet said.
"We saw the same optimism across most Asian markets on the back of growing bets on the dovish direction of interest rates next year," Colet added.
All counters recorded gains, led by Industrial which which went up by 100.20 points, followed by Mining and Oil, and Holding Firms.
Advancers led decliners at 124 to 61 while 36 shares were unchanged.
The peso, meanwhile, moved sideways, closing at 55.48 to a dollar on Thursday from the 55.55 finish on Wednesday.
It opened the day at 55.65 and traded between 55.48 and 55.69.
The weighted average for the day stood at 55.55.
Total volume of trade went down to USD1.03 billion from the previous day's USD1.5 billion. (PNA)
