Share prices ended up Wednesday on late-session buying as investors weighed the effectivity of the government to control the coronavirus disease 2019 (COVID-19).
The Philippine Stock Exchange index was up 18.10 points to 6,285.50, a 0.29 percent hike.
The broader all shares index was up 5.92 points to 3,683.75, a 0.16 percent hike.
Losers edged gainers 106 to 82 with 44 stocks unchanged. Trading turnover reached P8.72 billion.
The peso closed at 49.37 to the dollar, up from 49.54 on Tuesday. It opened at 49.54 and hitt a high of 49.46 and a low of 49.63. Trading turnover reached $760.73 million.
“Investors traded most of the session in red before bargain hunters picked up some key index names as investors grew wary of the economic, public health and policy response to the coronavirus pandemic,” said Luis Limlingan, managing director at Regina Capital and Development Corp.
“Equities lost steam after the White House reiterated a call to cap the next round of COVID-19 stimulus at $1 trillion or less, but accelerated their losses in the final hour of trade, after several Federal Reserve officials warned of challenges to the economy as infection rates soar across several states,” he added.
Most actively traded DMCI
Holdings Inc. was up P0.05 to 4.22. PLDT Inc. was up P51 to P1,348. BDO Unibank Inc. was down P2.40 to P95.60. Universal Robina Corp. was down P2.40 to P124.10. Ayala Land Inc. was down P0.80 to P33.90. Pure Gold Price Club Inc. was steady at P46.60. Ayala Corp. was down P3 to P748. International Container Terminal Services Inc. was down P2.50 to P100. Bank of the Philippine Islands was up P2.50 to P7