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Stocks up ahead of yearend window dressing; peso weakens

The Philippine Stock Exchange index (PSEi) started the week higher amid the quiet session during the Christmas holiday, but the peso weakened against the US dollar.

The main equities index rose by 1.02 percent, or 72.94 points, to 7,254.80 points.

All Shares followed with a jump of 0.54 percent, or 20.70 points, to 3,842.96 points.

Most of the sectoral indexes also gained during the day with the Financials rising by 1.89 percent; Services, 1.24 percent; and Holding Firms, 1.18 percent.

The Property and Mining and Oil indexes moved sideways after an increase of 0.09 percent and 0.04 percent, respectively, while Industrial lost 0.09 percent.

 Volume reached 1.1 billion shares amounting to PHP3.87 billion.

 Advancers led decliners at 87 to 83, while 51 shares were unchanged.

“Markets quietly were bought up in (a) low value turn-over environment, with very few catalysts and most preparing for the yearend window dressing,” said Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales.

 Meanwhile, the local currency finished the day at 50.23, a deprecation from its 50.04 close last Friday.

 It opened the day at 50.05 and traded between 50.26 and 50.05.

 Average level for the day stood at 50.134.

 Volume totaled to USD1.01 billion, higher than the previous session’s USD933.05 million.

By: Joann Villanueva

Philippine News Agency (PNA)

27 December 2021, 8:03 pm

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