Philippine stocks rebounded modestly on Thursday, with the Philippine Stock Exchange Index (PSEi) rising 0.27 percent, or 16.19 points, to 6,069.42, while the peso appreciated 0.07 percent to P62.520 per US dollar, snapping a four-session streak of record-low closes.

Investors sought bargains in the local equity market as US Treasury yields eased, with the 10-year yield at around 4.77 percent, while the US dollar index fell to about 99.25. Global equities also recovered as investors looked ahead to US employment data and fresh comments from Federal Reserve officials, further fueling optimism.

Relatively light market activity

The broader All Shares Index gained 0.51 percent to 3,369.81. Market activity remained relatively light, with value turnover at P5.24 billion from 1.15 billion shares traded across 79,491 transactions. Market breadth was mildly positive, with 119 advancers against 85 decliners and 50 unchanged.

The sectoral picture was stronger than the headline index, led by Mining and Oil, which surged 5.61 percent. Property followed with a 0.77-percent gain, while Industrials rose 0.75 percent, Holding Firms 0.43 percent, and Financials 0.14 percent. Services was the lone decliner, slipping 0.12 percent.

Apex Mining led gainers

Among the stocks tracked in PSE data, Apex Mining led the gainers, jumping 7.38 percent to P17.18, followed by Philex Mining, up 3.98 percent to P11.50, and Atlas Consolidated Mining, which rose 3.69 percent to P21.10. SP New Energy gained 2.50 percent to P1.23, Ayala Land 1.76 percent to P15, Aboitiz Equity Ventures 1.20 percent to P38, and Metrobank 0.84 percent to P65.85.

On the other side, BDO fell 0.99 percent to P120.30, Globe Telecom declined 0.57 percent to P1,583, and ICTSI eased 0.21 percent to P930.50.

The day’s leadership shifted toward resource and commodity-linked names as oil remained elevated amid the continuing US-Iran conflict.

The peso opened at P62.51, strengthened to an intraday low of P62.38, reached a high of P62.56, and ended at P62.52. Its weighted-average rate fell to P62.494 from P62.614, while trading volume declined to $1.553 billion from $1.828 billion.