By Joann Villanueva/PNA
MANILA — Philippine Stock Exchange index (PSEi) again posted gains despite renewed trade war concerns but the peso weakened against the greenback in Tuesday’s trading.
The main stock index rose to 7,413.63 points, up 0.21 percent or 15.76 points.
Regina Capital Managing Director Luis Limlingan attributed PSEi’s performance to investors’ risk-on sentiment.
“Sentiment was boosted as US shares closed higher Monday with retailers rallying on expectations of strong sales from deals on Cyber Monday,” he said.
Most of the counters finished the day with gains, with the All Shares up by 0.40 percent, or 17.67 points, to 4,458.76 points.
It was a mix among the sectors with the Financials, Holding Firms, and Services up by 1.10 percent, 0.58 percent, and 0.05 percent, respectively.
On the other hand, Mining and Oil went down by 1.62 percent and was trailed by Property, 0.64 percent, and Industrial, 0.60 percent.
Volume reached 1.18 billion shares amounting to PHP7.59 billion.
Gainers led losers at 98 to 76 while 58 stocks were unchanged.
On the other hand, the peso ended the day at 52.605, weaker than the 52.35 Monday.
It opened the day at 52.52, weaker than its 52.52 a day ago.
It traded between 52.62 and 52.43, resulting to an average of 52.523.
Volume surged to USD1.066 billion from day-ago’s USD 755.4 million.
