{"id":190192,"date":"2018-11-18T00:31:18","date_gmt":"2018-11-18T05:31:18","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=190192"},"modified":"2018-11-18T00:31:18","modified_gmt":"2018-11-18T05:31:18","slug":"psei-hits-7000-level-peso-up-slightly-in-friday-trading","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/11\/18\/psei-hits-7000-level-peso-up-slightly-in-friday-trading\/","title":{"rendered":"PSEi hits 7,000-level, Peso up slightly in Friday trading"},"content":{"rendered":"
\"\"<\/a>
Most of the other counters tracked the main gauge, with the broader All Shares rising by 1.31 percent, or 55.65 points, to 4,310.52 points. (Photo: qvist \/ ShutterStock)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— The Philippine Stock Exchange index (PSEi) climbed to the 7,000-level while the peso gained a little more ground against the greenback as the week’s trading closed, due partly to another hike in the Bangko Sentral ng Pilipinas\u2019 (BSP) key rates.<\/p>\n

The main equities index ended the week at 7,083.34 points, up by 1.88 percent, or 130.75 points.<\/p>\n

Most of the other counters tracked the main gauge, with the broader All Shares rising by 1.31 percent, or 55.65 points, to 4,310.52 points.<\/p>\n

Financials led the sectors with a jump of 3.27 percent due to positive earnings reports by banks. It was followed by the Property, 1.80 percent; Holding Firms, 1.54 percent; Industrial, 0.98 percent; and Services, 0.61 percent.<\/p>\n

Only the Mining and Oil index ended the week in the red after it fell 0.42 percent.<\/p>\n

Volume reached 699.67 million shares amounting to PHP9.9 billion.<\/p>\n

Gainers led losers at 115 to 65 while 47 shares were unchanged.<\/p>\n

A&A Securities head of research Jun Calaycay said that as the earnings season continues to unfold, \u201cinvestors\u2019 search for a positive impetus have narrowed to expectations of a Santa Claus rally.\u201d<\/p>\n

These expectations, he said, have \u201cnevertheless takes place over the period bridging the current and the new year.\u201d
\n\u201cMajor economic data will come out by next year, except for the monthly inflation report, thus, scrimping yet another possible source of catalyst over the near term,\u201d he said.<\/p>\n

Meanwhile, Regia Capital Managing Director Luis Limlingan said Thursday\u2019s increase in the BSP\u2019s key rates further boosted the PSEi.<\/p>\n

To date, the BSP\u2019s key policy rates have been hiked by a total of 175 basis points, due mainly to elevated inflation rate.<\/p>\n

Another factor for the PSEi\u2019s rise is the improvement of US equities, he said, citing reports about positive expectations for the US-China trade situation.<\/p>\n

Relatively, the peso finished the week at 52.715, an improvement from Thursday close of 52.805 close.<\/p>\n

A trader said the peso’s inspiration likewise came from the BSP\u2019s rate hike Thursday.<\/p>\n

Expectations that the inflation rate will “normalize” next year, following the cut of the BSP\u2019s average inflation forecast from 4.3 percent to 3.5 percent, also helped investors’ sentiment, the trader said.<\/p>\n

For the day, the local currency opened at 52.65, a big jump from its 52.98 start in the previous session.<\/p>\n

It traded between 52.625 and 52.74, resulting in an average of 52.68.<\/p>\n

Volume of trade totaled USD756.6 million, lower than the USD799.3 million a day ago.<\/p>\n

The currency pair is seen to trade between 52.60 and 52.90 next week.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— The Philippine Stock Exchange index (PSEi) climbed to the 7,000-level while the peso gained a little more ground against …<\/p>\n","protected":false},"author":44,"featured_media":183198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-190192","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/190192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=190192"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/190192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/183198"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=190192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=190192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=190192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}