MANILA – The Philippine Stock Exchange index (PSEi) continued to recover, while the peso also closed stronger than the dollar on the first trading day of the week.
The PSEi closed 0.40 percent higher to 7, 343.24 while All Shares also climbed 0.47 percent to 4, 036.20.
All Sectors closed in the positive territory, led by Mining and Oil which went up by 0.90 percent.
“Philippine shares made another recover after falling in the red intraday as more earnings continue to trickle in, while investors get ready for another trading week ahead,” Regina Capital Development Corp. head of sales Luis Limlingan said in a statement.
Limlingan said this week’s US economic calendar features key reports on home prices, consumer confidence, employment, gross domestic product, and inflation.
“Locally, a quiet week is expected, with traders focusing on the September PPI (producer price index) release on October 30,” he said.
Decliners led advancers at 99 to 90.
Meanwhile, the peso appreciated, closing at 58.225 to the dollar on Monday from 58.32 during its previous finish.
It opened at 58.4 and traded between 58.225 and 58.43, bringing the day’s average to 58.36.
Volume of trade declined to USD1.33 billion from USD1.69 billion. (PNA)