Philippine stocks recovered Wednesday as improved labor market data lifted investor sentiment, while the peso ended the session nearly unchanged against the US dollar.
The Philippine Stock Exchange index (PSEi) rose 1.05 percent to 5,736.69 points, reversing several days of losses. The broader All Shares index also gained 0.67 percent to 3,191.99.
Regina Capital Development Corporation Head of Sales Luis Limlingan said the market rebound reflected improved investor confidence following the release of August employment data.
“The stronger labor market data helped lift investor confidence and support a broader market rebound,” he said.
Mining and Oil posted the biggest gain among sectoral indices at 1.63 percent. Holding Firms followed with a 1.44-percent increase, while Financials and Property both advanced 1.31 percent. Services gained 0.54 percent.
Industrial was the only sector to decline, slipping 0.32 percent.
Market activity reached 513.23 million shares worth P4.94 billion. Decliners outnumbered gainers, 100 to 80, while 68 issues ended unchanged.
The Philippine Statistics Authority reported Wednesday that the labor force participation rate increased to 64 percent in August from 63.6 percent in July.
The employment rate also improved to 94.7 percent from 94 percent in July, matching the rate recorded in August last year.
As a result, the unemployment rate fell to 5.3 percent in August from 6 percent the previous month. However, it remained above the 3.9 percent recorded in August 2025.
Meanwhile, the peso closed at P62.75 against the US dollar, little changed from its P62.77 finish Tuesday.
The local currency opened at P62.65, weaker than Tuesday’s opening rate of P62.55. It traded between P62.65 and P62.84 during the session, resulting in an average rate of P62.76.
Foreign exchange volume reached US$1.21 billion, lower than the US$1.49 billion recorded in the previous session.
Photo courtesy of Remitly
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