Share prices rose yesterday, tracking overseas leads, enough for the index to be back to 6,200-level.
The peso closed up.
The Philippine Stock Exchange index was up 25.2 points to 6,208.83, a 0.41 percent increase.
The broader All Shares index was up 9.28 points or 0.28 percent to 3,314.60.
Losers edged gainers 80 to 80 with 53 stocks unchanged. Trading turnover reached P3.91 billion.
The peso closed at 55.39 to the dollar, up from 55.55 on Monday.
The currency opened at 55.43, an intraday low, and hit a high of 55.34. Trading turnover reached $1.6 billion.
Emerging Asian currencies in the region rose on Tuesday, with the US dollar touching new lows, as investors turned bullish on riskier Asian assets on renewed expectations of a potential end to US interest rate hikes.
The US dollar index fell 1.9 percent last week alongside a big rally in US Treasures and lost a further 0.5 percent overnight to 103.44.
Investors now shift their focus to minutes of the Federal Reserve’s last meeting to gauge the Fed’s next moves.
Juan Paolo Colet, managing director at China Bank Capital Corp., said the index returned above the 6,200 level “as a relatively benign market environment, an overnight rally in US shares, and a favorable auction of 20-year US Treasuries spurred bargain hunting in local equities.”
“The 6,200 to 6,250 area is a strong resistance zone, so we need to see more buying at these levels to build a case for a fresh rally,” Colet said.
Most actively traded Jollibee Foods Corp. was up P11 to P238. Ayala Land Inc. was steady at 29.85. International Container Terminal Srrvices Inc. was up P2.80 to P214.80. SM Investments Corp. was down P2 to P827. BDO Unibank Inc. was up P2.50 to P131.90. Century Pacific Food Inc. was up 0.65 to P30.50. SM Prime Holdings Inc. was down P0.45 to P31.25. Emperador Inc. was down P0.05 to P20.75. Bloomberry Resorts Corp. was up P0.04 to P9.80. PLDT Inc. was up P14 to P1,260.
