THE local bourse sustained its gains for the second consecutive trading day on Tuesday, April 22, but the local currency closed flat against the greenback.
The bellwether Philippine Stock Exchange index (PSEi) increased by 0.12 percent to 6,145.59 points, and the broader All Shares improved by 0.19 percent to 3,652.14 points.
Except for the Financials index, which declined by 0.21 percent, the rest of the sectoral counters closed in the green territory.
Winners were led by mining and oil, up by 1.82 percent; and followed by property, 0.84 percent; holding firms, up by 0.36 percent; and industrial, 0.02 percent. services, meanwhile, ended the day little changed.
Gainers outpaced losers at 95 to 83, while 52 counters were left unchanged.
“Philippine shares managed to eke out minor gains once again as the market brushed off President Trump’s renewed attacks on Fed Chair Jerome Powell,” Regina Capital Development Corp. head of sales Luis Limlingan said.
“The Philippine market posted modest gains as investors resumed bargain hunting, supported by optimism around strong corporate fundamentals and confidence in the local economy’s ability to weather external risks, including US tariff pressures,” he added.
Meanwhile, the Philippine peso ended the day sideways at 56.68 to the US dollar from its 56.61 close Monday.
It opened the trade at 56.65 and traded between 56.60 and 56.77, bringing the average level for the day at 56.69.
Volume of trade reached USD1.46 billion, almost the same as the previous session. (PNA)
