PSEi reclaims 6,300 level
THE Philippine Stock Exchange index regains footing above the 6,300 mark on Thursday, reflecting cautious optimism ahead of upcoming tariff negotiations.
Photo courtesy of Philippine Stock Exchange, Inc.
The Philippine Stock Exchange index edged up by 8.17 points, or 0.13 percent, to close at 6,303.72 on Thursday, recovering from its previous close of 6,295.55 on 17 July.
“The PSEi climbed back to the 6,300 level with total value turnover nearing P7.35 billion, net of extraordinary block sales,” said Luis Limlingan, head of sales at Regina Capital Development Corporation.
A total of 93 issues advanced, 104 declined, and 53 were unchanged, reflecting cautious sentiment among investors amid anticipation over potential tariff updates, with negotiations expected to take place early next week.
Meanwhile, the peso appreciated slightly, closing at 57.145 against the US dollar, stronger than the previous day’s finish of 57.29, based on data from the Bankers Association of the Philippines.