REPORTS on the improvement of the Philippines’ manufacturing sector partly boosted both the local bourse and the currency on Tuesday, July 1.
The Philippine Stock Exchange index (PSEi) gained 0.93 percent to 6,423.85 points. The broader All Shares followed, jumping 0.47 percent to 3,799.36 points.
Most of the sectoral indices also increased – the Holding Firms, 2.21 percent; Mining and Oil, 2.18 percent; Property, 1.89 percent; and Industrial, 0.24 percent.
On the other hand, Financials fell by 0.43 percent and Services by 0.14 percent.
Volume of trade reached 1.35 billion shares, amounting to nearly P7.7 billion.
Advancers led decliners at 115 to 79 while 65 shares were unchanged.
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort cited as a factor the 50.7 June 2025 S&P Global Philippine Manufacturing PMI (Purchasing Managers’ Index), up from the 50.1 in the previous month.
He said the Capital Markets Efficiency Promotion Act (CMEPA) Law, which took effect during the day, also backed the PSEi.
Among others, the law reduces stock market transaction taxes, which Ricafort said, “could help attract more foreign and local investors into (the local market) and also increase trading/liquidity in the local stock market with lower transaction costs.”
Another contributing factor is the correction of the US dollar-Philippine peso exchange rate, which traded at the 56-level during the day after hitting the 57-level in recent days, he said.
The local currency ended Tuesday at 56.3, almost unchanged from its 56.33 close on Monday.
It opened the trade stronger at 56.25 from 56.54 the previous day.
It traded between 56.37 and 56.15, bringing the day’s average to 56.24.
Volume totaled USD1.97 billion, up from Monday’s USD1.82 billion. (PNA)
