Stocks mount anew, peso moves sideways

MANILA – The Philippine Stock Exchange index (PSEi) rose for the second consecutive day on Thursday while the peso ended the day sideways on news about additional cases of the coronavirus disease (COVID-2019) in South Korea.

The main equities gauge rose 0.22 percent, or 16.06 points, to 7,413.00 points.

All Shares increased by 0.32 percent, or 13.78 points, to 4,375.87 points.

Property led the sectors in terms of gains after it jumped by 0.92 percent and was followed by the Financials, 0.82 percent; and Mining and Oil, 0.08 percent.

On the other hand, Holding Firms, Services, and Industrial slipped by 0.25 percent, 0.14 percent, and 0.10 percent, respectively.

Volume totaled 1.86 billion shares amounting to PHP5.79 billion.

Gainers led losers at 90 to 84, while 54 shares were unchanged.

The local currency ended the day at 50.58 from 50.54 to the greenback, which a trader pointed to reports on the increase of COVID-19 cases in South Korea to 82 due to the 31 new cases recorded in the city of Daegu.

The sideways close of the local unit showed early on when it started the day’s trade at 50.6 from the previous day’s 50.63 start.

It traded between 50.69 and 50.57, resulting in an average of 50.622.

Volume totaled $1.24 billion, higher than the $998.3 million a day ago.

The currency pair is seen to trade between 50.50 and 50.70 on Friday. (PNA)


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