By Joann Villanueva/Philippine News Agency
MANILA — The Philippine Stock Exchange index (PSEi) on Wednesday benefitted from the US government’s decision to delay its ban on Huawei products but the peso depreciated due to continued trade concerns overseas.
PSEi ended the day up by 1.21 percent, or 93.51 points, to 7,815.07 points.
All Shares also improved after it rose 0.83 percent, or 39.71 points, to 4,821.85 points.
Holding Firms posted the highest jump among the sectoral counters with gains of 2.78 percent. It was tracked by Services, which improved by 0.47 percent, as well as Industrial, 0.45 percent; Property, 0.37 percent; and Financials, 0.20 percent.
Only Mining and Oil ended the day in the negative territory with a contraction of 1.11 percent.
Volume reached 850.19 million shares amounting to PHP10.14 billion.
Advancers led decliners at 112 to 78 while 43 shares were unchanged.
On the other hand, the peso weakened to 52.53 from the previous session’s 52.475.
It opened the day on a better note at 52.47 from day-ago’s 52.57.
It further improved to 52.425 but also hit 52.54, bringing the day’s average to 52.479.
Volume reached USD777.95 million, a drop from Tuesday’s USD1.1 billion.
The local currency is projected to trade between 52.40 and 52.60 against the greenback on Thursday.
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