The Philippine stock market saw a notable rebound on Friday as Super Typhoon Carina exited the Philippine area of responsibility, coinciding with the resumption of peso-dollar trading after a two-day halt.
According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) experienced a gain of 55.74 points, closing at 6,726.01, driven by the departure of Typhoon Carina and mixed closes in US stocks ahead of an inflation report from the Federal Reserve. The All Shares index also rose, adding 23.29 points to end at 3,630.10. Despite the overall upward trend, the Mining and Oil sector fell by 46.73 points, while other sectors showed gains.
In the currency market, the peso resumed trading against the dollar, ending the day stronger at 58.35 from an opening rate of 58.545. The day's trading ranged between 58.35 and 58.545, with a weighted average of 58.444. The trading volume reached USD 1.28 billion.