Trading week off to good start
MANILA — Reports that the US and China have decided to hold a 90-day truce in their bitter trade war as they attempt to address festering issues more politely boosted both the Philippine peso and the main stocks gauge Monday.
The local currency finished the day at 52.32 to a greenback from 52.45 during the trading Thursday last week, November 29.
There was no trading last November 30 as the country commemorated Bonifacio Day.
A trader said the local currency closed in line with other units in the region given the general weakness of the US dollar.
For the day, the peso opened at 52.35, better than its 52.47 start in the previous session.
It traded between 52.395 and 52.275, resulting to an average of 52.335.
Volume of trade declined to USD965.6 million from USD1.16 billion at the end of last week’s trading.
The currency pair is seen to trade between 52.20 and 52.40 Tuesday.
Relatively, the Philippine Stock Exchange index (PSEi) ended the day up at 7,532.90 points, an increase of 2.24 percent or 165.05 points.
All Shares rose by 1.87 percent, or 82.92 points, to 4,524.25 points.
Property led the sectors with an increase of 2.91 percent and was followed by the HoldMANILA ing Firms, 2.75 percent; Industrial, 1.82 percent; Mining and Oil, 1.27 percent; Financials, 0.99 percent; and Services. 0.75 percent,
Volume reached 1.49 billion shares amounting to PHP10.22 billion.
Gainers led losers at 115 to 73 while 48 shares were unchanged.