THE Philippine Stock Exchange index (PSEi) bounced back after two days of shedding, while the peso continued to weaken on Thursday, January 9.
The bellwether PSEi closed in the green territory, up by 0.23 percent, at 6,511.57, with All Shares also increasing by 0.20 percent to 3,757.29.
“For the most part of the day, however, the market was in the negative territory as the Federal Reserve’s concerns over the US’ inflation outlook as expressed in their latest minutes of the meeting weighed on sentiment,” Philstock Financials research manager Japhet Tantiangco said.
Indices that ended in the green include Holding Firms, Property, Services, and Industrial, whose shares went up by less than 1 percent.
On the other hand, the Mining and Oil and Financials counters were this day’s losers, with shares down by 0.76 percent and 0.44 percent, respectively.
Decliners outnumbered winners at 108 to 99, with 39 firms left unchanged.
“Trading was still anemic with net value turnover at P3.5 billion as many investors chose to remain on the sidelines. Foreign transactions for the day registered a net outflow of P98.10 million,” Tantiangco added.
Meanwhile, the Philippine peso closed weaker at 58.50 to the US dollar, down from 58.40 to the greenback.
It started the day weak at 58.45 from the previous day’s opening at 58.20, before trading between 58.33 and 58.62 to the dollar.
The average level for the day was at 58.51 to the greenback.
Trade volume jumped to USD1.83 billion from USD1.74 billion the previous day. (PNA)
