MANILA – The local bourse and currency both improved on Thursday.
The Philippine Stock Exchange index (PSEi) bounced back to the 6,900-level this day after gaining 47.27 points, or 0.69 percent, closing at 6,904.04.
All Shares also improved by 9.65 points, or 0.27 percent, to 3,581.75 level.
All counters closed in the green territory, with the highest gains coming from Mining and Oil, which jumped by 110.97 points, or 1.36 percent, to 8.262.35 level.
This is followed by Services, Industrial, Property, Financials, and Holding Firms.
“(I)nvestors took positive cues from Wall Street’s record high performance overnight amid renewed rate cut hopes,” Philstocks Financial, Inc. research and engagement officer Mikhail Plopenio said.
“Boosting the sentiment was BSP (Bangko Sentral ng Pilipinas) Governor Eli Remolona’s statement saying that the BSP may even cut rates faster than the Fed,” Plopenio added.
Gainers led losers at 118 to 82, with 39 counters left unchanged.
Meanwhile, the Philippine peso gained 0.10 this day to close the trading at 56.03 to a US dollar from 56.13 on Wednesday.
However, the peso failed to return to the 55-level.
It opened the day weak at 56.01 from 55.87 the previous day.
The currency pair traded between 55.89 to 56.08 to the greenback, bringing the average level for the day at 55.96.
Trade volume declined to USD1.32 billion from USD1.54 billion on Wednesday. (PNA)
