Share prices ended higher Tuesday tracking overseas leads.
The Philippine Stock Exchange index (PSEi) was up 43.24 points to 6,870.41, a 0.63 percent hike.
The broader all shares index was up 28.16 points to 4,182.90, a 0.68 percent hike.
Gainers edged losers 122 to 69 with 53 stocks unchanged. Trading turnover reached P5.22 billion.
The peso closed at 48.70 to the dollar, down from 48.695 on Monday.
The currency opened at 48.68 and hit a high of 48.66 and a low of 48.76. Trading turnover reached $1.07 billion.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the market “followed the sentiment of US counterparts after the US market booked its best day on a percentage basis since March.”
“The upbeat performance in the local and regional markets came as investors moved on from the US Fed’s earlier comment that interest rate hikes are coming sooner than expected. More Fed speakers are scheduled to talk this week that would put more color on what factors led them to write down a more aggressive policy rate path,” he said.
Most actively traded Ever-Gotesco Resources and Holdings Inc. was down P0.03 to P0.46.
BDO Unibank Inc. was steady at P114.40. Ayala Land Inc. was up P0.35 to P36.85. SM Prime Holdings Inc. was up P0.10 to P36.65. AC Energy Corp. was up P0.10 to P8.50. Mode Nissin Corp. was up P0.08 to P14.58. International Container Terminal Services Inc. was down P1.40 to P156.60. PLDT Inc. was up P12 to P1,290. JG Summit Holdings Inc. was down P0.55 to P60. SM Investments Corp. was up P16 to P1,000.
