MANILA — In the Philippines, local stocks saw a modest increase on Tuesday, buoyed by the central bank’s recent policy decision to lower the reserve requirement ratio for banks, although the peso experienced a decline against the dollar.

According to Philippines News Agency, the Bangko Sentral ng Pilipinas’ (BSP) move to cut the reserve requirement ratio (RRR) had a favorable impact on the stock market. The Philippine Stock Exchange index (PSEi) climbed 14.96 points, closing at 7,432.21, while the All Shares index also recorded a gain, rising by 5.48 points to end at 3,963.50. “Local shares rose on Tuesday, supported by the BSP’s reserve requirement cut and China’s new stimulus measures,” stated Luis Limlingan, managing director at Regina Capital Development Corporation.

While most sectors posted gains, with the Property sector leading by rising 0.95 percent, the Holding Firms and Services sectors did not partake in the positive trend. The market dynamics showed a closely contested field with 102 advancing stocks versus 100 decliners, and 57 counters remained unchanged.

The peso, on the other hand, did not fare as well, depreciating to close at 56.245 to a dollar, a drop from the previous day’s close of 55.97. It fluctuated between 55.97 and 56.33 throughout the day, averaging 56.107.

Additionally, there was a noticeable increase in trading volume, reaching USD 1.8 billion up from USD 1.3 billion, indicating heightened activity in the market.

MANILA — In the Philippines, local stocks saw a modest increase on Tuesday, buoyed by the central bank’s recent policy decision to lower the reserve requirement ratio for banks, although the peso experienced a decline against the dollar.

According to Philippines News Agency, the Bangko Sentral ng Pilipinas’ (BSP) move to cut the reserve requirement ratio (RRR) had a favorable impact on the stock market. The Philippine Stock Exchange index (PSEi) climbed 14.96 points, closing at 7,432.21, while the All Shares index also recorded a gain, rising by 5.48 points to end at 3,963.50. “Local shares rose on Tuesday, supported by the BSP’s reserve requirement cut and China’s new stimulus measures,” stated Luis Limlingan, managing director at Regina Capital Development Corporation.

While most sectors posted gains, with the Property sector leading by rising 0.95 percent, the Holding Firms and Services sectors did not partake in the positive trend. The market dynamics showed a closely contested field with 102 advancing stocks versus 100 decliners, and 57 counters remained unchanged.

The peso, on the other hand, did not fare as well, depreciating to close at 56.245 to a dollar, a drop from the previous day’s close of 55.97. It fluctuated between 55.97 and 56.33 throughout the day, averaging 56.107.

Additionally, there was a noticeable increase in trading volume, reaching USD 1.8 billion up from USD 1.3 billion, indicating heightened activity in the market.