PH Stocks Rises Amid Pandemic

With the 7,000-level comeback on Friday, the Philippine Stock Exchange index (PSEi) rises which also benefited the Philippines Peso (PHP).

Main stocks climbed by 2.46% or 172.17 points, a total of 7,169.79 points while other trade stocks also rose by 2.23% or 91.85 points to 4,219.39 points.

The mining and oil industry topped the scores with 2.88% followed by holding companies with 2.87%, real estate property with 2.83%, financials with 2.80%, industrial with 1.7% and services with the least score of 0.49%.

In total, shares reached up to P10.94 billion.

“Local shares cross well above 7,100 as investors bought up shares after the surprise cut of the BSP,” said Luis Limlingan, Regina Capital Development Corp. Sales head.

PHP to USD however, is now at 48.23 compared to the previous 48.315. (MLC)