Share prices rose Monday on bargain hunting.
The peso closed down.
The Philippine Stock Exchange index (PSEi) was up 10.43 points to 3,570.89, a 0.29 percent hike.
The broader All Shares index was up 58.62 points or 2.95 percent to 2,043.49.
Gainers edged losers 101 to 97 with 39 stocks unchanged. Trading turnover reached P6.95 billion.
The peso closed at 55.58 to the dollar, down from 55.53 on Friday.
The currency opened at 55.65 and hit a high of 55.515 and a low of 55.70. Trading turnover amounted to $1.01 billion.
Most Asian currencies weakened against the greenback, led by Indonesia’s rupiah, as investor attention turns toward central bank meetings due this week that could stimulate volatility in currency markets.
Markets are almost sure the US Federal Reserve will stand pat at its meeting on March 20.
Claire Alviar, analyst at Philstocks Financial Inc., said investors sought bargains.
“The growth of overseas Filipinos’ cash remittances by 2.7 percent in January, provided optimism as well,” Alviar said.
Most actively traded Metropolitan Bank and Trust Co. was up P4.25 to P66.50. BDO Unibank Inc. was up P5 to P153. Bank of the Philippine Islands was up P2.10 to P120.50.
International Container Terminal Services Inc. was down P7.80 to P307.20. Ayala Corp. was down P1.50 to P660. SM Investments Corp. was down P1 to P980. Aboitiz Power Corp. was down P1.80 to P37.50. Universal Robina Corp. was down P2.10 to P104.70. Aboitiz Equity Ventures Inc. was down P0.90 to P47.80. SM Prime Holdings Inc. was up P0.25 to P31.50.
