Share prices jumped yesterday buoyed by the sustained improvement of the peso against the dollar and positive growth projections for the Philippines.
The peso closed up.
The Philippine Stock Exchange index was up 17.30 points to 6,705.01, a 0.26 percent hike.
The broader All Shares index was up 8.24 points or 0.23 percent to 3,602.86.
Losers edged gainers 89 to 80 with 59 stocks unchanged. Trading turnover reached P4.61 billion.
The peso closed at 58.25 to the dollar, up from 58.295 on Wednesday.
The currency opened at 58.25 and hit a high of 58.17 and a low of 58.333. Trading turnover reached $1.17 billion.
Currencies in emerging Asian markets were largely mixed.
Mikhail Philippe Plopenio, analyst at Philstocks Financial Inc., said investors cheered the continuous improvement of the peso against the US dollar.
Plopenio said investors also welcomed projections of the Asian Development Bank that the Philippines and Vietnam lead Asean in economic growth in 2024 and 2025.
Most actively traded Ayala Land Inc. was down P0.70 to P30.95. Bank of the Philippine Islands was up P5.20 to P126. BDO Unibank Inc. was up P3.10 to P126. SM Prime Holdings Inc. was steady at P29.80. SM Investments Corp. was down P21 to P902. International Container Terminal Services Inc. was down P1.40 to P363. Metropolitan Bank and Trust Co. was up P0.90 to P68.50. GT Capital Holdings Corp. was up P10 to P607. Philex Petroleum Corp. was down P0.35 to P4.15. Universal Robina Corp. was up P0.20 to P112.
