NextGen Day

During Thursday’s trading session, easing inflation in the United States generated optimism in the local stock market and the Philippine peso.

💼 The Philippine Stock Exchange index (PSEi) closed stronger, gaining 111.64 points to reach 6,578.49, with all shares and sectors ending in positive territory.

📊 Regina Capital Development Corp.’s Head of Sales, Luis Limlingan, attributed the improvement in the local benchmark to better-than-expected inflation figures in the US.

🇺🇸 The US government reported a 3% inflation rate for June, the lowest in two years.

📈 All shares in the local stock market also increased, with a rise of 39.73 points to 3,497.06.

⛏️ The Mining and Oil sector led the gainers, with shares jumping 187.65 points to 10,036.76, supported by improved sentiment in the global oil market following the US inflation report.

💰 The total volume of shares traded in the PSE reached over 509.6 million, with a value of PHP6.04 billion.

📈 The peso also ended the day strong, closing at 54.51 to the US dollar, an improvement of 0.42 from the previous day’s closing of 54.93.

🏦 Rizal Commercial Banking Corp. (RCBC) economist Michael Ricafort highlighted that the peso’s Thursday closing was its best performance in three months.

💱 The peso opened the day at 54.60 and traded between 54.46 and 54.67 against the US dollar, averaging 54.57.

💼 Trade volume increased to USD1.41 billion from the previous day’s USD1.36 billion.

💼 RCBC economist Michael Ricafort also noted that the peso’s strength was supported by seasonal increases in overseas Filipino workers’ remittances for tuition payments and school opening-related expenditures.

📉 For Friday, RCBC’s economist suggested that the peso exchange rate could range between 54.40 and 54.60 levels.

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