Share prices ended up Monday on bargain hunting.
The peso closed down.
The Philippine Stock Exchange index (PSEi) was up 37.13 points to 6,754.01, a 0.55 percent hike.
The broader all shares index was up 12.66 points to 3,598.51, a 0.35 percent hike.
Gainers edged losers 96 to 90 with 42 stocks unchanged. Trading turnover reached P4.96 billion.
The peso closed at 52.95 to the dollar, down from 52.86 on Friday. The currency opened at 52.90 and hit a high of 52.87 and a low of 52.975. Trading turnover reached $745.17 million.
Most Asian currencies weakened on Tuesday against the dollar, which tracked US Treasury yields higher amid worries about persistent price pressures, Reuters reported.
Japhet Tantiangco, analyst at Philstocks Financial Inc. said the market’s uptick was recorded amid “anemic” volume as investors “stay out of the market due to lingering concerns.
In particular, Tantiangco noted as concerning the high inflation expectations backed by May’s inflation print, the rising oil prices, weakening peso, and increase in minimum wages.
Most actively traded SM Prime Holdings Inc. was down P0.35 to P39.10. AyalaLand Inc. was up P1 to P30.95. BDO Unibank Inc. was down P0.70 to P128.30. Globe Telecom Inc. was up P30 to P2,394. Raslag Corp. was down P0.16 to P1.89. Bloomberry Resorts Corp. was down P0.02 to P6.25. International Container Terminal Services Inc. was down P1.40 to P214. Converge ICT Solutions Inc. was up P0.35 to P24.20. Ayala Corp. was up P17 to P678.50. Ayala Corp. was up P17 to P678.50. AC Energy Corp. was up P0.18 to P7.49.
