Philippine shares and peso rise after Fed keeps rates unchanged
The PSEi closed at 5,705.58, while the peso strengthened by 17.5 centavos to ₱63.85 per US dollar.
Philippine stocks advanced after the US Federal Reserve left interest rates unchanged, with the Philippine Stock Exchange index (PSEi) adding 52.03 points, or 0.92 per cent, to finish at 5,705.58. The peso also gained against the US dollar.
Bankers Association of the Philippines data put the peso’s closing rate at ₱63.85 per dollar, a gain of 17.5 centavos from the previous close of ₱64.025. It opened at ₱63.88 and traded between ₱63.80 and ₱63.91. Currency trading volume dropped by about 11.9 per cent, from US$1.66 billion to US$1.46 billion.
The All Shares index finished at 3,194.73 after adding 12.04 points, or 0.38 per cent. PSEi transactions amounted to ₱3.97 billion. Gainers numbered 86 against 77 decliners, with another 85 issuers ending unchanged.
International Container Terminal Services Inc. led trading activity. Its shares finished at ₱840 each, up 2.44 per cent.
Luis Limlingan, head of sales at Regina Capital Development Corp., said the Fed decision eased concerns about further monetary tightening, while the peso’s modest recovery also supported confidence. He nevertheless expected investors to remain cautious, citing domestic inflation and currency pressures. He warned that weaker economic indicators could prompt renewed selling as investors assess risks to capital flows and company earnings.
