Philippine shares inched up on Monday, ahead of the release of the February 2025 inflation data, while the peso moved sideways.
The Philippine Stock Exchange index (PSEi) gained 0.65 percent to 6,037.19 while All Shares also rose by 0.89 percent to 3,620.12.
“Philippine shares made modest gains following the sentiment of regional and markets and with the quarterly MSCI (Morgan Stanley Capital International) rebalancing concluding last week,” Regina Capital Development Corp. head of sales Luis Limlingan said.
Limlingan said this week’s key US data includes February’s jobs report on Friday, with PMI (purchasing managers index) signaling weaker hiring and potential public sector job losses.
“Back home, the highlight is the CPI (consumer price index) release on March 5, alongside the S&P Global Manufacturing PMI (March 3), PPI (March 4), Unemployment Rate (March 6), and GIR level (March 7),” he said.
Except for Industrial and Services, all sectors closed in the green, led by Holding Firms that went up by 2.90 percent.
Losers outnumbered gainers at 120 to 75.
Meanwhile, the peso closed at 57.9 to a dollar on Monday from the 57.99 finish last Friday.
It opened at 57.98 and traded between 57.88 and 57.98, bringing the weighted average to 57.92.
Volume of trade settled went down to USD1.06 billion from USD1.19 billion.*PNA
