Philippine Stocks Rise, Peso Falls on Thin Trading as Investors Return from Holidays

Philippine stocks rose, while the peso fell on the first trading day of 2025 amid thin trading as most investors were still on holiday mode. The peso closed at 57.91 against the US dollar on Thursday, after a long holiday break, down from 57.84 on Dec. 27, 2024.The Philippine Stock Exchange index climbed 21.60 points, or 0.33 percent, to close at 6,550.39, while the broader all-shares index gained 6.59 points, or 0.18 percent, to reach 3,755.61. Four of the six indices ended in the red.

Mining and oil went down by 1.74 percent, holding firms by 0.33 percent, industrial by 0.18 percent and property by 0.03 percent. Financials rose by 1.69 percent and services by 0.84 percent. Value turnover stood at P3.24 billion. There were 94 gainers versus 97 decliners, while 47 names were unchanged. International Container Terminal Services Inc. advanced 3.37 percent to P399, while SM Prime Holdings Inc. declined 0.60 percent to P25. Philippine Stock Exchange president and chief executive Ramon Monzon expressed optimism about the stock market’s performance for 2025. “At the PSE, we are always optimistic and hopeful and this year is no exception. We look forward to a more robust trading year and better capital raising performance,” said Monzon. “Our team will continue to work towards ticking off more items in our three-year strategic plan, which are initiatives that will contribute to the development of the local capital market and help us catch up with our peers in the region,” he said. Meanwhile, Asian stocks began 2025 mostly in the red on Thursday after worries about US interest rates, tariffs, and China’s economy gave Wall Street the holiday blues for a fourth straight session. Equities mostly had a bumper 2024 on the back of enthusiasm about artificial intelligence (AI), cuts in borrowing costs by central banks, and Donald Trump’s presidential election wi

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