MANILA – Local shares ended their shedding at the end of the week while the peso closed strong on Friday.
The Philippine Stock Exchange index (PSEi) closed this day’s trading higher by 1.53 percent, or 104.87 points, at 6,942.21.
This ended the local bourse’s three-day shedding.
“Philippines shares finally broke the losing streak and bounced back ahead of (the) anticipated release of February’s jobs report,” Regina Capital Development Corp. head of sales Luis Limlingan said.
The unemployment rate in January 2024 settled at 4.5 percent, the Philippine Statistics Authority reported on Friday.
All shares also improved by 0.98 percent to 3,602.81.
Except for Mining and Oil, five sectors recorded gains.
Advancers led decliners at 107 to 87, with 44 left unchanged.
Meanwhile, the Philippine peso strengthened to 55.57 against the US dollar.
It gained by 0.25 from Thursday’s closing at 55.82 to the greenback.
The local currency kicked off at 55.82 against the previous day’s opening at 55.77.
The currency pair traded from a low of 55.57 to a high of 55.87, bringing this day’s average level to 55.76 to a dollar.
Trade volume rose to USD1.21 billion from Thursday’s level of USD932 million. (PNA)
