MANILA – The Philippine Stock Exchange index (PSEi) closed with gains on Friday, while the peso ended the day nearly unchanged, wrapping up a week of trading influenced by major policy adjustments from central banks.
According to Philippines News Agency, the PSEi rose by 0.70 percent to close at 7,252.32 points, with the All Shares index also up by 0.62 percent at 3,895.62 points. Sectoral indices mostly saw green, led by a significant 2.25 percent increase in Financials. In contrast, the Property sector experienced a downturn, dropping by 0.70 percent.
Japhet Tantiangco, research manager at Philstock Financials, linked the stock market’s positive performance to recent monetary policy decisions. “The bourse, already buoyed by the Federal Reserve’s recent 50 basis point policy rate cut, received another boost as the Bangko Sentral ng Pilipinas (BSP) trimmed our banks’ reserve requirement ratios,” Tantiangco explained. He noted that these measures were expected to augment liquidity and provide a stimulus to the local economy.
In the currency market, the Philippine peso saw minimal change, closing at 55.69 against the US dollar, slightly weaker than Thursday’s close of 55.61. The peso fluctuated within a narrow range, trading between 55.45 and 55.69 throughout the day, with an average trading level at 55.56 to the dollar. The trade volume decreased from USD 1.99 billion on Thursday to USD 1.67 billion.
The trading session ended with 130 winners, outpacing 77 losers, while 47 counters remained unchanged, reflecting a broadly positive sentiment among investors.