PH stocks edge higher, peso holds steady amid cautious trading

Local equities made a modest recovery on Wednesday, while the peso moved sideways against the US dollar, reflecting a cautious investor sentiment amid mixed global cues.

The Philippine Stock Exchange index (PSEi) inched up by 0.10 percent or 6.24 points to close at 6,166.05. The broader All Shares index also posted gains, rising to 3,676.71.

“Philippine shares made a modest recovery as Wall Street closed higher overnight, with investors optimistic over the possibility of narrower US tariffs,” said Luis Limlingan, Managing Director at Regina Capital Development Corporation.

Gains were led by the Mining and Oil and Services sectors, while Holding Firms and Property slipped into negative territory. Market breadth was negative, however, with 111 decliners outpacing 92 advancers.

Meanwhile, the peso ended the day slightly weaker at 57.69 to the US dollar, down from Tuesday’s close of 57.60. The local currency opened at 57.58 and traded within a narrow range of 57.57 to 57.74, resulting in a weighted average of 57.67.

Trading volume declined, with total transactions reaching USD1.33 billion, lower than the previous day’s USD1.54 billion.

Market analysts noted that investors are staying on the sidelines while awaiting key economic indicators and updates on global trade developments.