Trad­ing week off to good start

Sun.Star Cagayan de Oro - - Business -

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.

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