MANILA – The Philippine Stock Exchange index (PSEi) closed slightly higher on Monday, recovering from last week’s losses, while the Philippine peso ended the day almost unchanged against the US dollar.

The local bourse’s main index rose 0.24 percent to 6,052.33 points, while the broader All Shares index slipped 0.08 percent.

Most sectoral indices ended in the red — Industrial dropped 1.22 percent, Property by 0.43 percent, Holding Firms by 0.20 percent, and Financials by 0.11 percent. Only Mining and Oil and Services gained, rising 2.29 percent and 2.01 percent, respectively.

Trading volume reached 1.96 billion shares, valued at PHP 4.92 billion, with 121 decliners, 76 advancers, and 52 unchanged.

Luis Limlingan, head of sales at Regina Capital Development Corporation, said the market’s rebound came despite persistent trade uncertainties between the US and China that continued to weigh on global sentiment.

“The index’s resilience was likely driven by bargain hunting, while investor sentiment was further lifted by the appreciation of the Philippine peso against the US dollar,” Limlingan said in a market report.

Meanwhile, the peso closed at 58.245 per US dollar, almost unchanged from 58.24 on Friday last week.

It opened at 58.22, improving from its previous 58.4 start, and traded between 58.12 and 58.26, averaging 58.19.

Total trade volume in the foreign exchange market increased to USD 1.66 billion from USD 1.41 billion recorded at the end of last week. (PNA)