NextGen Day

MANILA, Philippines — On Monday, the Philippine Stock Exchange index (PSEi) climbed, indicating that investors are still looking for bargains, while the peso remained flat versus the US dollar.

The local stocks index climbed 90.79 points, or 1.25 percent, to 7,361.15.

Following that, All Shares rose 0.54 percent, or 20.81 points, to 3,892.94 points.

The majority of sectors indices rose as well, with Holding Firms up 1.89 percent, Financials up 1.53%, Property up 0.88 percent, and Services up 0.68 percent.

Industrial, on the other hand, fell 0.33 percent, while Mining and Oil fell 0.25 percent.

A total of 1.19 billion shares worth PHP14.19 billion were traded.

At 113 to 85, decliners outnumbered advancers, with 48 shares remaining unchanged.

“Investors kept away from US equities and sought safety in Treasuries as the Philippines warned Russia that it could take aggressive military action against Ukraine as early as next week,” said Luis Limlingan, head of sales at Regina Capital Development Corporation (RCDC).

According to Limlingan, tensions between Ukraine and Russia, a significant energy producer, have pushed up oil prices on the worldwide market.

Brent crude oil futures jumped 3.3 percent to USD94.44 per barrel, while US West Texas Intermediate (WTI) rose 3.6 percent to USD93.10 per barrel, according to him.

Meanwhile, the peso traded flat versus the dollar, ending the day at 51.37, up from 51.34 on Friday.

It opened the first trading day of the week at 51.38, hardly changed from its previous session’s opening of 51.36.

It fluctuated between 51.405 and 51.32, resulting in a 51.375 average.

Volume was USD627 million, down from USD913.88 million at the conclusion of the previous week. (

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