PSEi closes higher on sustained investor confidence

Positive investor sentiment continued to buoy the Philippine Stock Exchange index (PSEi) on Friday, while the peso managed to hold steady against the US dollar.

The main index rose 0.50 percent to 6,264.49 points, while the All Shares gained 0.17 percent to 3,740.81 points.

Three sectoral indices also closed in the green: Financials climbed 2.01 percent, Services rose 0.49 percent, and Holding Firms edged up 0.10 percent. On the other hand, Industrial dropped 0.60 percent, Property shed 0.47 percent, and Mining and Oil slipped 0.12 percent.

Market volume reached 2.1 billion shares valued at nearly ₱14.3 billion. Decliners outnumbered advancers, 105 to 93, while 57 issues were unchanged.

Regina Capital Development Corp. head of sales Luis Limlingan said the bourse benefited from “continued buying pressure driven by positive economic developments, reflecting improved investor confidence.”

“Additionally, steady capital inflows from both local and foreign investors provided further support to overall market momentum,” he added. “The continued sentiment that the US Fed will maintain its accommodative stance has given investors a reason to re-engage with equities.”

Meanwhile, the peso ended the week slightly weaker at 57.15 against the US dollar, from Thursday’s close of 57.06.

It opened at 57.20 and traded between 57.25 and 57.08. The day’s average stood at 57.16.

Trading volume declined to USD1.3 billion from USD1.55 billion in the previous session.