Share prices ended up Wednesday as investors bet on the continued opening of economies after the lockdown.
The Philippine Stock Exchange index was up 220.48 points to 6,245.65, a 3.66 percent hike.
The broader all shares index was up 106.59 points to 3,658.31, a 3 percent hike.
Gainers edged losers 143 to 59 with 44 stocks unchanged.
The peso closed at 50.10 to the dollar, up from 50.34 on Tuesday.
the currency opened at 50.18, hit a high of 50.10 and a low of 50.23. Trading turnover reached $855.72 million.
Stockbroker SB Equities Inc. said the market posted its longest rally in two years at six days, “as investors continued to be optimistic over an economic recovery following the easing of quarantine restrictions.”
Luis Limlingan, managing director at Regina Capital Development Corp. said the uptick was also in the backdrop of energy stocks rallying to a 12-week high on reduced oil inventories, among others.
Limlingan also noted that the noise on US-China Trade tension is “not as severe.
Most actively traded GT Capital Holdings Inc. was up P14 to P385. Ayala Land Inc. was up P2.70 to P36. SM Investments Corp. was down P1 to P945. Security Bank Corp. was up P5.40. Jollibee Foods Corp. was up P6.40. BDO Unibank Inc. was up P4.40 to P102.40.
Ayala Corp. was up P13.50 to P755.50. Rizal Commercial Banking Corp. was up P4.20 to P20.70. SM Prime Holdings Inc. was up P1.50 to P33.50. Globe Telecom Inc. was down P16 to P2,176.
