[ad_1]
MANILA – The Philippine Stock Market Index (PSEi) advanced for the fourth consecutive day on Friday and the peso rallied against the US dollar on investor expectations of more hikes in the Bangko Sentral ng Pilipinas (BSP) on its key rates, among other factors
The main stock index rose 0.46%, or 35.53 points, to 7 701.38 points, which , according to a trader, matches that of regional peers partly to the statement of the European Central Bank ECB President Mario Draghi pointed out that the ECB had begun to cut back on its buying program. assets as of December 2010.
The All Expanded Index increased by 0.22%, or 10.01 points, to reach 4,615.53 points.
Most sectors ended the week with gains – led by the property, 0.87%; and was followed by Financials, 0.41 percent; Industrial, 0.36%; Holdings, 0.06%; and services, 0.01%
Only mines and oil finished on the red with a drop of 0.51%.
The volume of the day totaled 1.3 billion shares for an amount of 6.22 billion PHP
In addition, the local currency closed the week at 50.285 against the greenback, a 53.435 bond leap over Thursday
A trader said the BSP governor, Nestor A. Espenilla Jr.'s recent statement about the possibility of another interest rate hike at the meeting of the Monetary Council of the Central Bank (MB) on August 9 stimulated market sentiment.
This rise in rates in the Philippines has added similar projections for other central banks abroad, whose investors expected to benefit after years of low interest rates. interest, said the trader.
The peso opened the day at 53.5, lower than its 53.29 early in the previous session. opening level and 53.28, r The volume of the day reached $ 794.8 million, up from 625.4 million US dollars the day before
The currency pair should s & # 39, exchange between 53.20 and 53.60 next week. (PNA)
[ad_2]
Source link
