The Philippine Stock Exchange index (PSEi) rose 10.32 points yesterday, a 0.17 percent hike to 6,225.
The broader All Shares index was up 3.7 points or 0.11 percent to 3,360.14.
Losers edged gainers 87 to 85 with 56 stocks unchanged. Trading turnover reached P3.41 billion.
The peso closed at 56.80 to the dollar, down from 56.62 on Monday.
The currency opened at 56.70 and hit a high of 56.68 and a low of 56.90. Trading turnover reached $1.52 billion.
Most Asian currencies fell on Tuesday, with the Thai baht and the South Korean won leading the laggards, as sluggish data from China led to renewed worries about its unstable growth, Reuters reported.
Inflation in the Philippines quickened for the first time in seven months.
“The August upside surprise now has Bangko Sentral ng Pilipinas on notice, although we doubt one data point will be enough for Governor (Eli) Remolona to flip back into tightening mode,” Nicholas Mapa, a senior economist with ING said in a research note.
Investors will look out for a slew of speeches from the US Federal Reserve officials throughout the week. Markets have priced in a 93 percent chance of the Fed keeping rates unchanged later this month.
Claire Alviar, analyst at Philstocks Financial Inc., said stock market investors bought bargains near the market’s support level of 6,150.
“In the early part of the trading session, the market was in the red as the August inflation rate rose 5.3 percent, higher than July’s 4.7 percent. Bargain hunters saved the market from the red territory,” Alviar said.
Most actively traded Bank of the Philippine Islands was down P1.60 to P104.20. Ayala Corp. was up P3 to P628. BDO Unibank Inc. was down P0.90 to P138.60. Bloomberry Resorts Corp. was up P0.08 to P11.04. GT Capital Holdings Inc. was up P3 to P575. SM Prime Holdings Inc. was down P0.70 to P29.85. International Container Terminal Services Inc. was down P1 to P205. Ayala Land Inc. was steady at P28.60. SM Investments Corp. was up P20 to P840. JG Summit Holdings Inc. was up P0.40 to P37.20.