Share prices ended mixed Thursday as investors digested news locally and overseas.
The peso closed down.
The Philippine Stock Exchange index (PSEi) was up 16.87 points, a 0.25 percent hike to 6,675.46.
The broader All Shares index was up 5.38 points or 0.15 percent to 3,551.48.
Losers edged gainers 98 to 66 with 62 stocks unchanged. Trading turnover reached P6.24 billion.
The peso closed at 55.75 to the dollar, down from 55.67 on Wednesday.
The currency opened at 55.58 and hit a high of 55.54 and a low 55.78. Trading turnover reached $1.29 billion.
Asian currencies inched higher on Thursday after data showed US consumer prices in April rose at a slightly slower-than-expected pace, suggesting the Federal Reserve is succeeding in taming high inflation, Reuters reported.
Hopes of an imminent Fed pause improved risk sentiment in Asian markets.
Money markets are currently pricing in a 99.7 percent chance that the Fed will keep rates on hold at its next meeting in June.
Juan Paolo Colet, managing director at China Bank Capital Corp., said investors appear to have taken the view that the data points – US inflation and Philippine GDP – did not offer any compelling reason to be very bullish, after the release of the US inflation figures Wednesday night and the country’s economic output for the first quarter, release Thursday. The Philippines was reported to have expanded by 6.4 percent in the first quarter.
“The lack of any fresh leads will make the market cautious as participants begin to shift their focus on the BSP’s (Bangko Sentral ng Pilipinas) pronouncements on interest rates next week,” he said.
Most actively traded SM Prime Holdings Inc. was up P0.60 to P34.60. BDO Unibank Inc. was up P0.50 to P136. Ayala Land Inc. was up P0.05 to P27. SM Investments Corp. was down P2 to P941. Ayala Corp. was up P11.50 to P678. Bloomberry Resorts Corp. was up P0.36 to P11.36. JG Summit Holdings Inc. was up P0.05 to P51.45. ACEN Corp. was down P0.07 to P6. PLDT Inc. was down P15 to P1,208. International Container Terminal Services Inc. was up P2.40 to P208.
