Share prices ended higher Wednesday, tracking overseas leads.
The Philippine Stock Exchange index was up 78.27 points to 7,059.51, a 1.12 percent hike.
The broader all shares index was up 43.68 points to 4,401.85, a 1 percent hike.
Gainers edged losers 113 to 92 with 41 stocks unchanged. Trading turnover reached P9.54 billion.
The peso closed at 50.88 to the dollar, down from 50.65 on Tuesday.
The currency opened at 50.64 and hit a high of 50.61 and a low of 50.90.
Trading turnover reached $963 million.
Asia’s emerging currencies dipped against a firmer US dollar, Reuters reported. The greenback inched higher ahead of US jobs data this Friday that may offer more insight into the timing of the Fed’s plans to tighten policy.
Analysts said emerging currencies have shown a relatively muted reaction to the Fed’s announcement in September that it would likely begin reducing its monthly bond purchases as soon as November.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the market “rode on the positive momentum in the US Tuesday night after the rout in tech stocks.”
Japhet Tantiangco, analyst at Philstocks Financial Inc., said “optimism towards the country’s improving COVID-19 situation sustained the market’s upward movement, bringing it higher.”
Most actively traded Globe Telecom Inc. was up P296 to P3,410. Converge Information and Communication Technology Solutions Inc. was up P2 to P44. PLDT Inc. was up P19 to P1,710. Wilcon Depot Inc. was up P2.35 to P31.35. AC Energy Corp. was up P0.44 o P12.40. Ayala Corp. was down P1 to P820. BDO Unibank Inc. was up P2 to P114.50. Robinsons Retail Holdings Inc. was up P2.90 to P61.10. LT Group Inc. was down P0.24 to P9.75. SM Prime Holdings Inc. was up P1 to P33.80.
