Business and Economy
Peso, PSEi finish week with gains
The Philippine Stock Exchange index (PSEi) (PNA PHOTO)
MANILA — Volatility in the financial market continues to affect the Philippines’ financial markets but on a positive note with equities market recovering amid foreign selling and the peso improving against the greenback.
The Philippine Stock Exchange index (PSEi) recovered anew and rose 0.19 percent, or 15.39 points, to 8,171.43 points.
The broader All Shares ticked up by 0.48 percent, or 23.10 points, to 4,841.35 points.
It was a balance for the sectors with Services, Industrial, and Property rising by 1.50 percent, one percent, and 0.05 percent, respectively.
On the other hand, the Mining and Oil shed 0.62 percent followed by the Financials, 0.10 percent; and Holding Firms, 0.10 percent.
Volume for the day reached 9.916 billion shares with volume surging to PHP73.73 billion.
Gainers led losers at 131 to 77 while 48 stocks were unchanged.
The peso gained PHP0.165 to a US dollar and finished the week at PHP50.815 from PHP50.980 a day ago.
It opened the day at PHP50.88, better than the PHP51.05 Thursday.
It traded between PHP50.90 and PHP50.76 bringing the day’s average to PHP50.83.
Volume of trade reached USD740.3 million, lower than the USD881.5 million a day ago.
