Better outlook for 2024 boosts PH shares, peso

By Kris Crismundo

January 15, 2024, 8:26 pm

MANILA – The local stock barometer and the peso closed stronger at the beginning of this week's trading.

The Philippine Stock Exchange index (PSEi) jumped 37.27 points to 6,680.45, with All Shares also increasing by 17.16 points to 3,523.77 on Monday.

"Philippine shares continued to be bought up in January as funds continued to make bets on the issues that would outperform for 2024," Regina Capital Development Corp. head of sales Luis Limlingan said.

All sectoral indices ended in the positive territory led by Mining and Oil, with shares higher by 128.60 points.

Advancers led decliners at 107 to 78, while 52 issues unchanged.

Meanwhile, the peso appreciated by 0.12 to 55.88 to a US dollar from 56 to the greenback.

It opened the day stronger at 55.85 from previous trading's kick off at 56.03

The currency pair traded between 55.77 and 55.95, bringing the average level for the day at 55.88.

The volume of trade reached USD1.31 billion, lower than last week's volume of USD1.7 billion. (PNA)