PSE index surges, peso gains

March 6, 2019

The Philippine stock index regained their foothold in a key level while the peso recovered against the US dollar on Wednesday.

The peso closed at P52.165, up from Tuesday's P52.24. Volume at the foreign exchange portal of the Bankers Association of the Philippines (BAP) reached $1.31 billion from the previous day's $1.483 billion.

On Tuesday, the peso closed nearly 50 centavos lower.

On Wednesday incoming Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said :'' We don't look at the fluctuations, number one. Number two because the dollar strengthens...compared to other currencies in the world. So we have to look on other matters.''  

The Philippine Stock Exchange index closed at 7,821.34 points. up 150.72 points. In the broader market, there were 113 gainers and 88 decliners while 38 shares were unchanged.

Volume reached 1.53 billion shares worth P 6 billion from Tuesday's 3.56 billion shares valued at P6.6 billion.

Most traded shares were led by ICTSI, up 3.28 percent to P116.50; Metro Pacific, up 5.76 percent to P4.96 and Ayala Land, up 2.31 percent to P44.25. DMS