Share prices rose Wednesday on bargain hunting.
The peso closed up.
The Philippine Stock Exchange index was up 54.52 points to 6,704.96, a 0.82 percent hike.
The broader All Shares index was up 19.3 points or 0.53 percent or 3.629.30.
Losers edged gainers 105 to 98 with 54 stocks unchanged. Trading turnover reached P6.96 billion.
The peso closed at 56.955 to the dollar, up from 56.96 on Tuesday.
The currency opened at 56.90 and hit a high of 56.835 and a low of 57.12. Trading turnover reached $1.34 billion.
Most Asian currencies rallied on Wednesday after soft US producer prices data stirred hopes of benign consumer price inflation.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors continued to bargain hunt ahead of the Bangko Sentral ng Pilipinas’policy meeting Thursday.
“More economic data and corporate earnings continue to underscore that the economy continues to perform remarkably well. Sentiment got a boost from US equities, which rose after a cooler-than-expected PPI (producer price index) report, with attention now on Wednesday’s CPI (consumer price index) release in the US,” he said.
Most actively traded Jollibee Foods Corp. was up P7 to P241.60. International Container Terminal Services Inc. was up P2 to P369. Ayala Land Inc. was up P0.70 to P31.50. Ayala Corp. was up P17 to P618. DigiPlus Interactive Corp. was up P0.12 to P19.02. BDO Unibank Inc. was up P1.20 to P140.20. Bank of the Philippine Islands was down P1.20 to P118. SM Investments Corp. was down P5.50 to P914.50. PLDT Inc. was down P30 to P1,570. SM Prime Holdings Inc. was up P0.60 to P30.30.
