NextGen Day

MANILA, Philippines — The Philippine Stock Exchange index (PSEi) finished Monday in positive territory for the second day in a row, while the peso traded sideways against the US dollar.

The local stock index climbed 9.52 points, or 0.13 percent, to 7,134.36 points.

The Dow Jones Industrial Average rose 0.20 percent, or 7.46 points, to 3,782.05 points.

Industrial, 0.84 percent, and Holding Firms, 0.48 percent, were the two sectoral indicators that tracked the main index.

The majority of sectoral indexes, however, fell during the day, with Mining and Oil down 0.87 percent, Services down 0.45 percent, Property down 0.24 percent, and Financials down 0.11 percent.

The total number of shares traded was 768.14 million, worth PHP5.2 billion.

“Philippine shares were purchased up ahead of the quarter’s conclusion and a succession of major economic data releases, while the street keeps a close eye on the Fed’s (Federal Reserve) scheduled interest rate hikes,” Regina Capital Development Corporation (RCDC) head of sales Luis Limlingan said.

After a 25-basis-point rate hike this month, the first since December 2018, Fed policymakers hinted at more hikes in the coming months to assist address the increasing consumer price index (CPI) in the US, which hit a four-decade high of 7.9% last February.

Meanwhile, the peso concluded the first trading day of the week at 52.13, unchanged from its previous close of 52.15 on Friday.

It started the day at 52.18, up from 52.305 at the start of the previous session.

It traded in a range of 52.3 to 52.08, resulting in a 52.21 average.

Volume was USD778.55 million, down from USD1.11 billion at the conclusion of the previous week.

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