Local shares rose as investors hunted for bargains, while the peso strengthened on the last trading day of the week.
The Philippine Stock Exchange index (PSEi) rose 0.17 percent to close at 6,406.38.
All Shares also went up by 0.11 percent to 3,675.83.
“The PSEi closed this Friday at 6,406.38, up by 0.17%. The local market rose as investors hunted for bargains following the 7-day decline,” said Philstock Financials research manager Japhet Tantiangco.
“Investors also digested the Bangko Sentral ng Pilipinas latest policy rate cut,” he added.
The Bangko Sentral ng Pilipinas on Thursday reduced policy rates by another 25 basis points.
The miners led the sectors, gaining 1.56 percent while banks were at the bottom, down by 1 percent.
Advancers edged decliners 101 to 87.
Meanwhile, the peso strengthened, closing at 58.81 to a dollar from 59 the previous day.
It opened at 58.97 and traded between 58.79 to 58.98, bringing the weighted average of the day to 58.874.
Volume rose to USD1.3 billion from USD1.09 billion on Thursday.*PNA
