Morgan Stanley Philippines: Stock prices rebounded, Peso weakens

The Philippine Composite Index (PSEi) rose on Tuesday, but the peso weakened against the US dollar.

The domestic share barometer rose 1.06% (77.93 points) to 7,458.23 points. All stocks followed with a jump to 3,929.18 points at 0.76 percent or 29.57 points.

Most sector indices also rose that day, withholding companies up 1.52%. Service, 1.43 percent. Industrial, 1.09%. Mining and oil, 1.02%. And property, 0.59%. Only finance was flat after a 0.08% drop.

The volume reached 1.07 billion shares of PHP 690 million. 4,444 movers led the movers 116-77, but 51 shares were flat.

“Philippines shares were purchased because investors were away from overseas markets and were bought by the index name before the rebalancing of MSCI (Morgan Stanley Capital International) and the results of the fourth quarter.” Luis Limlingan said. Sales management. “US stocks fluctuate between profits and losses before retreating to the last hour before Thursday's January CPI (Consumer Price Index) report,” said

Limlingan. Said. “On encouraging signs of progress in US-Iran negotiations leading to the possibility of lifting US sanctions on Iran's oil sales,” on Monday.

The peso fell against the greenback, closing at 51.5 from a closing price of 51.37 a day ago, with the most optimistic turnout on the local stock exchange.

It opened the day at 51.4 and traded between 51.5 and 51.38. The average of days was 51,436. The volume of the went from $ 959.3 million to just over $ 1 billion.