Share prices closed up Wednesday on bargain hunting as the peso touched a 17-month low.
The Philippine Stock Exchange index (PSEi) was up 45.07 points to 6,450.04, a 0.7 percent hike.
The broader All Shares index was up 20.17 points or 0.59 percent to 3,430.02.
Gainers edged losers 98 to 85 with 53 stocks unchanged. Trading turnover reached P5.89 billion.
The peso closed at 57.18 to the dollar, down from 57 on Tuesday.
The currency opened at 57.10, an intraday high and hit a low of 57.333. Trading turnover reached $1.92 billion.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., noted that the peso hit its lowest in 17 months, since November 2022 when it closed at 57.375.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the market found a support at 6,400 that helped it bounce and close green.
Most actively traded SM Investments Corp. was up P6 to P938. Ayala Land Inc. was down P0.25 to P26.95. International Container Terminal Service Inc. was up P0.80 to P315. Ayala Corp. was up P8.50 to P593.50. BDO Unibank Inc. was up P3.60 to P150. SM Prime Holdings Inc. was down P1.05 to P28.25. Bank of the Philippine Islands was up P2.50 to P118. Jollibee Foods Corp. was up P2.60 to P223.60. GT Capital Holdings Corp. was down P35 to P590. Metropolitan Bank and Trust Co. was up P1.70 to P66.
