PSEi, PHP back on track

MANILA—Risk-on appetite buoyed the Philippines’ currency and equities markets Monday on investors disappointment on US president Donald Trump’s speech after he failed to detail possible fiscal stimulus.

The Philippine Stock Exchange index (PSEi) rallied for the fourth consecutive session after it gained 1.96 percent, or 141.69 points, to 7,374.35.

All Shares rose 1.39 percent, or 60.51 points, to 4,426.16 points.

Most of the sectors also registered improvements led by the Holding Firms with 2.26 percent increase.

Services followed with 1.58 percent increase as well as the Financials, 1.50 percent; Property, 1.49 percent; and Industrial, 1.46 percent.

Mining and Oil, on the other hand, ended on the red after it declined 0.27 percent.

Total volume reached 1.22 billion shares amounting to USD5.61 billion.

Gainers led losers at 108 to 79 while 45 shares while unchanged.

The peso closed sideways at 49.87 from 49.92 Friday last week, which a trader said was in line with regional really after Trump’s inauguration last week.

It opened the week at 49.85, stronger compared to its 49.95 start in the previous session.

It traded between 49.88 and 49.82 resulting to an average of 49.84.

Volume of trade reached USD513 million, lower than the USD716.7 million at the end of last week.

The currency pair is seen to trade between 49.80 and 50.00 Tuesday.