malaysiang
MANILA: The local stock market ended the last trading day of the week above the 6,600 level, boosted by the better-than-expected December 2023 inflation data, while the peso moved sideways.
The Philippine Stock Exchange index (PSEi) and All Shares both gained, the former with 27.12 points to 6,629.64 and the latter with 16.76 points to 3,502.52.
“Philippine equities maintained their upward trajectory as inflation turned out cooler than expected, registering at 3.9%,” Regina Capital Development Corporation managing director Luis Limlingan said.
“The index closed at 6,629.64, marking a 0.41% increase and sustaining the positive trend,” he added.
Half of the sectors closed in the green, while Services, Mining and Oil, and Property ended the day in the negative territory.
Net market value turnover for the day stood at PHP4.08 billion.
Meanwhile, the peso closed sideways to 55.57 to a dollar from Thursday’s 55.5.
The peso opened the day at 55.5 and traded between 55.475 to 55.78.
The weighted average level
for the day stood at 55.613.
The trade volume went up to USD2.04 billion from Thursday’s USD1.72 billion.
Source: Philippines News Agency
