Share prices ended higher Monday tracking overseas leads.
The peso closed lower.
The Philippine Stock Exchange index (PSEi) was up 79.93 points to 6,583.47, a 1.23 percent hike.
The broader All Shares index was up 28.04 points or 0.81 percent to 3,479.82.
Gainers edged losers 94 to 85 with 48 stocks unchanged. Trading turnover reached P4.56 billion.
The peso closed at 56.33 to the dollar, down from 55.97 on Friday.
The currency opened at 55.95 and hit a high of 55.95 and a low of 56.33. Trading turnover reached $1.71 billion.
Asian currencies wavered as the dollar struggled to hold its data-spurred gains from last week, ahead of monetary policy decisions by major central banks in Japan and Europe.
The dollar index was largely flat at 103.16.
The dollar rally may pause this week given the absence of any major US data or Federal Reserve speakers, analysts at BBH Global Currency Strategy wrote.
Luis Limlingan, managing director at Regina Capital and Development Corp. said “investors returned to buying equities in force following a short-lived market stumble to start the new year.”
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the market also closed up after it was reported global crude prices slightly corrected lower recently.
Most actively traded BDO Unibank Inc. was up P3.80 to P140.60. GT Capital Holdings Inc. was up P30 to P642. Ayala Land Inc. was up P1 to P33.35. SM Prime Holdings Inc. was up P0.25 to P33. Ayala Corp. was up P16 to P691. Bank of the Philippine Islands was up P0.30 to P106.50. International Container Terminal Services Inc. was up P1.80 to P241. Robinson Land Corp. was up P0.64 to P16.50. Universal Robina Corp. was down P1.40 to P113.50. SM Investments Corp. was up P13 to P883.