NextGen Day

Following a string of negative closes in recent days, bargain hunters boosted the local stock market on Friday, but the peso ended the week flat versus the greenback.

The Philippine Stock Exchange index (PSEi) increased 0.75 percent to 7,293.52 points or 52.24 points.

The S&P 500 gained 0.35 percent, or 13.56 points, to 3,869.40.

The majority of sectoral counters, on the other hand, concluded the week in the negative – 0.70 percent for mining and oil, 0.45 percent for services, 0.37 percent for financials, and 0.17 percent for industrials.

Property and Holding Firms, on the other hand, increased by 1.74 and 1.41 percent, respectively.

“Philippine investors were bargain hunters as the country was viewed as being better protected from the pandemic and inflation than other regions,” said Luis Limlingan, head of sales at Regina Capital Development Corp. (RCDC).

Limlingan cited a spike in jobless claims in the United States, which hit 286,000 in the week ending January 15, the highest level since October last year.

The yields on US Treasury securities have also continued to grow, with the two-year yield hovering around 1.04 percent and the benchmark 10-year bond yielding 1.87 percent.

The local currency profited from the good close of the local bourse’s main index, which completed the week’s trade at 51.37, slightly altered from 51.34 the day before.

It started the day at 51.42 and ended the day at 51.423, averaging 51.47.

Volume was UD993.2 million, up from USD858.95 million in the previous session.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---