LOCAL shares started the year on a positive note, while the peso closed at slightly below 58 to the US dollar on Thursday, January 2.
The Philippine Stock Exchange index (PSEi) rose by 0.33 percent to close at 6,550.39, while All Shares also went up by 0.18 percent to 3,755.10.
“Philippine shares started on a positive note, showing noticeable gains to close up 0.33 percent to 6550.39 as the market gears up for a full year ahead,” Regina Capital Development Corp. head of sales managing director Luis Limlingan said.
He added: “On the domestic front, investors are closely monitoring the release of the December S&P Global Manufacturing PMI (Purchasing Managers’ Index) on Jan. 2 and the November PPI (Producer Price Index) on Jan. 3.”
S&P Global reported on Thursday that the Philippine manufacturing PMI rose to 54.3 in December from 53.8 in November.
Financials and Services ended the first trading day of the year in the green, up by 0.84 percent and 1.69 percent, respectively.
Industrial, Holding Firms, Mining and Oil, and Property, however, closed in the red.
Losers outnumbered gainers at 97 to 94, with 47 counters left unchanged.
The peso, meanwhile, moved sideways, closing at 57.91 to the dollar from 57.85 on Dec. 27 last year.
It opened at 57.9 and traded between 57.78 and 58.04, averaging at 57.88.
Volume of trade reached USD1.19 billion, down from USD1.52 billion on the last trading day of 2024. (PNA)
