The Philippine Stock Exchange Index (PSEi) closed higher on Wednesday, up 73.15 points, or 1.13 percent, to 6,523.19, as most sectors posted gains amidst optimistic trading.
The broader All Shares index also advanced, adding 26.30 points to finish at 3,456.32, a 0.77 percent increase.
Financials led the charge among the sectors, soaring 1.74 percent to reach 2,049.42, buoyed by strong performances in banking stocks.
The Services sector was another significant contributor, jumping 2.61 percent to 1,833.87, driven by robust demand in telecommunications and utilities.
Conversely, the Mining and Oil index was the day’s outlier, declining by 1.63 percent to 8,129.43, as global commodity prices faced downward pressure, impacting local mining stocks.
Property and Holding Firms sectors also saw positive movements, with property stocks up by 0.93 percent to 2,481.56, and holding firms increasing by 0.47 percent to 6,005.47.
The Industrial sector had a modest gain of 0.21 percent, closing at 8,507.76.
In terms of thematic indexes, the PSE Dividend Yield index rose by 1.16 percent to 1,667.46, while the PSE MidCap index climbed 1.28 percent to 1,187.56, reflecting a growing investor interest in medium-sized enterprises.
The PSEi Total Return index, which includes reinvested dividends, mirrored the main index’s performance, increasing by 1.13 percent to 2,710.85.
PhilippinesToday.ph