Share prices rose Monday as investors bet on better economic numbers ahead of a slew of government releases this week.
The peso closed up.
The Philippine Stock Exchange index was up 32.08 points to 6,951.67, a 0.46 percent hike.
The broader All Shares index was up 9.74 points or 0.27 percent to 3,618.95.
Losers edged gainers 94 to 88 with 54 stocks unchanged. Trading turnover reached P5.64 billion.
The peso closed at 55.97 to the dollar, up from 56.015 on Friday.
The currency opened at 56 and hit a high of 55.98 and a low of 56.055. Trading turnover reached $768.2 million.
Most Asian currencies rose on Monday, as investors prepared themselves for a week filled with key inflation data and central bank meetings as well as an annual parliamentary session in China.
A string of recent data has pointed to a challenging economic outlook for China, Southeast Asia’s largest trading partner, adding pressure on policymakers to roll out fresh stimulus measures.
The Philippines’ nflation data for February due later this week is also being keenly awaited by investors after a steep fall in consumer prices in January reignited deflationary concerns.
Inflation data from Thailand, and South Korea are also on investors’ radar this week.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors made bets ahead of the February inflation report due Tuesday as investors gear for the start of another trading month.
Most actively traded Bank of the Philippine Islands was down P2 to P120. International Container Terminal Services Inc. was up P16.80 to P300. SM Investments Corp. was down P2 to P935. SM Prime Holdings Inc. was up P0.75 to P33.20. BDO Unibank Inc. was down P2 to P152. Ayala Land Inc. was up P0.10 to P34.90. Metropolitan Bank and Trust Co. was up P2.75 to P63.70. Ayala Corp. was down P4 to P687. Jollibee Foods Corp. was down P4.60 to P267. PLDT Inc. was down P1 to P1,285.