Share prices ended higher Tuesday on late-session buying.
The Philippine Stock Exchange index (PSEi) was up 20.35 points to 6,981.24, a 0.29 percent hike.
The broader all shares index was up 9.98 points to 4,358.17, a 0.23 percent hike.
Losers edge gainers 106 to 84 with 58 stocks unchanged. Trading turnover reached P6.57 billion.
The peso closed at 50.65 to the dollar, up from 50.70 on Monday.
The currency opened at 50.82, an intraday low, and hit a high of 50.625. Trading turnover reached $1.02 billion.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the market was “bought up towards closing as the September inflation came in much better than most had anticipated.”
“The latest CPI (consumer price index) reading showed a contraction in the general prices of good to 4.8 percent, whereas most predicted this to hit above 5 percent,” he said.
“Meanwhile those same inflation fears weighed on the US market. Technology and tech-related stocks also received some pressure. The sentiment stems from the failed talks about infrastructure and social spending,” he added.
Most actively traded Monde Nissin Corp. was down P0.26 to P18.80. Converge Information and Communication Technology Solutions Inc. was up P2 to P42. Ayala Land Inc. was down P0.10 to P32.65. Aboitiz Power Corp. was down P1.25 to P29.30. Globe Telecom Inc. was up P114 to P3,114. AC Energy Corp. was up P0.04 to P11.96. PLDT Inc. was down P1 to P1,691. Robinsons Retail Holdings Inc. was up P2.95 to P58.20. Semirara Mining and Power Corp. was down P0.15 to P23.80. MREIT Inc. was up P0.28 to P17.68.
