Share prices ended higher Tuesday on continued investor confidence.
The peso closed up.
The Philippine Stock Exchange index rose 64.18 points or 1.01 percent to 6,418.94.
The broader all shares index was up 26.99 points or 0.81 percent to 3,379.58.
Gainers edged losers 102 to 83 with 49 stocks unchanged. Trading turnover reached P5.13 billion.
The peso closed at 57.21 to the dollar, up from 57.28 on Monday.
The currency opened at 57.30 and hit a high of 57.20 and a low of 57.47. Trading turnover reached $766.9 million.
Emerging Asian currencies were little changed on Tuesday as investors assessed the impact of a likely economic slowdown in China and expected rate hikes, including by the Federal Reserve,” Reuters reported.
In Southeast Asia, the Philippines central bank is expected to deliver a jumbo 75 basis points rate hike.
“Investors continued to buy into the Philippine market, as they remained wary Fed’s remarks on rate hikes going forward,” said Luis Limlingan, managing director at Regina Capital and Development Corp.
Most actively traded SM Prime Holdings Inc. was down P0.55 to P34.59. Ayala Corp. was up P16 to P687. SM Investments Corp. was up P28 to P870. Universal Robina Corp. was up P1.90 to P129.80. BDO Unibank Inc. was down P0.10 to P134. Jollibee FoodsCorp. was up P0.20 to P248. Ayala Land Inc. was up P0.10 to P27.30. International Container Terminal Services Inc. was up P2.80 to P183.80. Semirara Mining and Power Corp. was down P0.10 to P29.95.
