By Ed Paolo Salting and Eireene Jairee Gomez
THE peso was unchanged while the stock market added just a few points on Monday ahead of the release of 2022 economic growth data later this week.
The currency closed at P54.54 to a dollar, the same as Friday's finish.
The benchmark Philippine Stock Exchange index (PSEi), meanwhile, added 13.06 points, or 0.19 percent, to close at 7,069.68. The broader All Shares went up by a smaller 8.39 points, or 0.23 percent, to 3,691.25.
"The day's move could be attributed to investors adopting a wait-and-see mode ahead of the release of fourth-quarter 2022 GDP (gross domestic product) reports for the Philippines and the US later this week, which are both on Jan[uary] 26," Rastine Mercado, research head at China Bank Securities, said.
Claire Alviar, research associate at Philstocks Financial Inc., noted that foreigners had helped lift the market with a net inflow of P421.79 million. US market gains from Friday also provided support, she added.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., meanwhile, said sentiment was being buoyed by dovish signals regarding upcoming policy rate meetings in the United States and Manila.
Regina Capital Development Corp. Managing Director Luis Limlingan said investors would also be looking for the latest US personal consumption expenditure price index and the S&P Global Manufacturing PMI (purchasing managers' index), among others.
Peso trading opened at P54.4:$1 and ranged from P54.3 to P54.6. The total volume for the day was $1.24 billion, slightly higher than the $1.046 billion in the previous session.
Sectoral results, meanwhile, were mixed with holding firms up the most (0.63 percent) and mining and oil (-0.80 percent) leading the losers.
A total of 1.24 billion shares worth P8.35 billion changed hands.
Advancers edged out decliners, 99 to 92, while 55 remained unchanged.
