“`html<\/p>\n
THE MAIN INDEX experienced a modest increase on Tuesday due to bargain seeking after its three-day decline, supported by favorable momentum from Wall Street overnight.<\/p>\n
The Philippine Stock Exchange index (PSEi) advanced by 0.15% or 9.46 points to finish at 6,093.53. In contrast, the broader all shares index fell by 0.11% or 4.07 points to conclude at 3,657.85.<\/p>\n
\u201cThe market concluded in positive territory following three straight days of losses, spurred by bargain seeking among traders,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan stated in a Viber message. \u201cNevertheless, sentiment remains wary as the Philippine peso continues to weaken against the US dollar, while the country\u2019s balance of payments (BoP) contracted in September.\u201d<\/span><\/p>\n The peso declined by 5.5 centavos to settle at P58.225 versus the dollar on Tuesday from Monday\u2019s close of P58.17, according to data from the Bankers Association of the Philippines. This represented its weakest performance in over a week.<\/p>\n Conversely, the country\u2019s BoP situation registered an $82-million surplus in September, down from the $3.526-billion surplus in the same month of the prior year, as reported by the central bank on Monday.<\/span><\/p>\n This contributed to reducing the country\u2019s end-September BoP deficit to $5.315 billion. However, this marked a shift from the $5.117-billion surplus recorded during the same timeframe last year.<\/p>\n \u201cThe local market rebounded from a three-day downturn as bargain seeking took precedence. The positive signals from Wall Street facilitated Tuesday\u2019s recovery,\u201d Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco mentioned in a Viber message.<\/span><\/p>\n Stocks on Wall Street surged sharply on Monday, with technology shares contributing significantly to the gains, as generally positive quarterly earnings reports rekindled investor risk appetite, as reported by Reuters.<\/p>\n The Dow Jones Industrial Average increased by 554.28 points or 1.20% to 46,745.63; the S&P 500 elevated by 78.61 points or 1.19% to 6,743.00; and the Nasdaq Composite ascended by 343.37 points or 1.52% to 23,023.62.<\/p>\n