The local stock market continued to rebound on Wednesday, closing near the 6,600 level, while the peso moved sideways.
The Philippine Stock Exchange index (PSEi) gained 65.95 points, closing at 6,572.75, while the broader All Shares also rose 16.56 points to 3,463.46.
“Philippine shares continued to rebound, finishing 1.01% higher, nearing the 6,600 level as investors applauded the ‘so far, so good’ earnings results of U.S.-listed companies,” Regina Capital Development Corp. Managing Director Luis Limlingan said.
“Across the region, investors breathed a collective sigh of relief following Iran’s statement that it will not further escalate its conflict with Israel,” he added.
Almost all counters closed in the green led by Industrial and Holding Firms.
Financials, however, slightly declined by 1.88 points.
Advancers led decliners at 111 to 99, leaving 52 counters unchanged.
The peso, meanwhile, moved sideways, closing at 57.55 to a dollar from Tuesday’s 57.51 finish.
It opened the day at 57.4 and traded between 57.31 and 57.57.
The weighted average for the day was at 57.409.
Trade volume went up to USD1.37 billion from USD1.17 billion on Tuesday.*PNA
