Bourse higher but peso down
Philippine shares continued with the bargain hunting as funds continue to position for the year ahead, while awaiting for other foreign funds to return from an extended holiday.
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Philippine shares continued with the bargain hunting as funds continue to position for the year ahead, while awaiting for other foreign funds to return from an extended holiday.
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Shares rose for the second consecutive day, while the peso depreciated on Friday.
The Philippine Stock Exchange index (PSEi) went up by 0.82 percent to 6,603.81, while All Shares likewise rose 0.81 percent to 3,785.48.
“Philippine shares continued with the bargain hunting as funds continue to position for the year ahead, while awaiting for other foreign funds to return from an extended holiday,” Luis Limlingan, Regina Capital Development Corp. head of sales managing director, said.
All Sectors closed in the green led by Financials and Property which went up by 1.42 percent and 1.02 percent, respectively.
Gainers dominate
Gainers outnumbered losers at 126 to 84.
The peso, meanwhile, depreciated, closing at 58.2 to a dollar from Thursday’s 57.91 finish.
It opened at 58.05 from the previous day’s 57.9.
It traded between 58.05 to 58.2 bringing the weighted average of the day to 58.17.
Volume of trade rose to USD1.37 billion from USD1.19 billion.
