Share prices closed higher on Tuesday on sustained interest by investors betting on encouraging February inflation numbers, due out today.
The Philippine Stock Exchange index (PSEi) rose 26.92 points or 0.45 percent to end trade at 6,064.11.
The broader All Shares index gained 8.84 points or 0.24 percent to 3,628.96.
Gainers edged losers 107 to 84, with 49 stocks unchanged. Trading turnover reached P7.09 billion.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors “seized bargain hunting opportunities ahead of the CPI (consumer price index) release,” helping the local stock market buck the regional trend.
Stockbroker SB Equities Inc. said the market resisted the pullback in Asian equities “amid global trade war concerns, given US President (Donald) Trump’s signal to push through with 25 percent tariffs on Canada and Mexico, as well as additional 10 percent tariffs on China.”
The market opened little changed despite the overnight fall on Wall Street.
“Intraday, it initially stayed in the red, but shifted toward positive territory by the late morning session,” SB Equities said in a note.
Most actively traded Bank of the Philippine Islands finished unchanged at P127. BDO Unibank Inc. gained P4.50 to P151. International Container Terminal Services Inc. also closed steady at P340. Ayala Land Inc. rose P0.25 to P21.90. SM Investments Corp. ended flat at P808. JG Summit Holdings Inc. shed P0.02 to P16.30. DigiPlus Interactive Corp. climbed P1 to P34.60. AREIT Inc. lost P0.55 to end at P38.95. Universal Robina Corp. rose P1.80 to P68. Jollibee Foods Corp. dropped P6 to P252.
