The deceleration of the domestic inflation rate last November boosted sentiments in the local bourse , lifting the main index, and the Philippine peso ended the week sideways against the US dollar at 58-level.
The Philippine Stock Exchange index (PSEi) rose by 1.04 percent to 5,949.2 percent.
Decliners exceeded advancers at 95 to 83 while 69 were unchanged.
All Shares also ended the week up, rising 0.55 percent to 3,477.68 points.
Half of the sectors tracked the main index, namely Services, 3.93.percent; Property, 0.82 percent; and Mining and Oil, 0.47 percent.
On the other hand, Holding Firms declined 0.45 percent, Financials, 0.15 percent; and Industrial, 0.08.percent.
Volume reached P5.17 billion.
Luis Limlingan, Regina Capital Development Corporation head of sales, said the lower inflation rate last November, at 1.5 percent from month-ago’s 1.7 percent, helped improve sentiments during the day.
“Investors appeared to react positively, treating the figure as an important input for the central bank’s upcoming policy decision,” he said.
Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) will have its last rate setting for the year on Dec. 11, and it is widely expected to cut the central bank’s key rates given the earlier statements of BSP Gov. Eli Remolona.
With this development, the local currency finished the week at 58.93, from its 59.02 close to a greenback Thursday.
It opened the day weaker at 59.12 compared to its 58.95 start in the previous session.
It traded between 58.90 and 59.16, bringing the day’s average at 59.02.
Volume reached USD1.42 billion from its USD1.29 billion a day ago.*PNA
