Share prices closed up on window dressing. The peso closed up.
The Philippine Stock Exchange index (PSEi) was up 8.64 points, a 0.13 percent hike to 6,511.49.
The broader all shares index was up 2.08 points or 0.06 percent to 3,465.89.
Losers edged gainers 94 with 79 with 51 stocks unchanged. Trading turnover reached $6.79 billion.
The peso closed at 55.30 to the dollar, up from Tuesday’s 55.32.
The currency opened at 55.32 and hit a high of 55.25 and a low of 55.45. Trading turnover reached $905.1 million.
Central banks in most emerging Asian countries have kept their interest rates unchanged over the past few months as inflation trends downwards, with a rebound in tourism and activity boding well for economic growth.
“The local index notched a slight gain as traders positioned ahead of tomorrow’s anticipated window dressing. The 6,600 area remains a critical resistance for the market, and investors should expect selective volatility driven mainly by portfolio adjustments,” said Juan Paolo Colet, managing director at China Bank Capital Corp.
Most actively traded SM Prime Holdings Inc. was up P0.50 to P33.80. First Philippine Holdings Inc. was up P0.20 to P60.30. SM Investments Corp. was down P3 to P916. BDO Unibank Inc. was up P1.90 to P138.90. Bank of the Philippine Islands was up P0.90 to P110. Ayala Land Inc. was steady at P25.10. International Container Terminal Services Inc. was down P8.80 to P200.20. Jollibee Foods Corp. was steady at P238.60. Ayala Corp. was up P10 to P640. Metro Pacific Investments Corp. was down P0.05 to P4.74.
