Share prices and the peso went up yesterday on improving investor sentiment.
The Philippine Stock Exchange index was up 109.05 points, a 1.78 percent hike to 6,230.58.
The broader All Shares index was up 39.11 points or 1.21 percent to 3,282.38.
Gainers edged losers 123 to 55 with 44 stocks unchanged. Trading turnover reached P5.64 billion.
The peso closed at 58.22 to the dollar, up from 58.43 on Wednesday.
The currency opened at 58.25 and hit a high of 58.09 and a low of 58.455. Trading turnover reached $1.8 billion.
Most Asian currencies, except the yuan, were trading higher on Thursday, helped by a weaker dollar and rising expectations that the US Federal Reserve might curtail its aggressive policy rate hikes, Reuters reported.
Other Asian markets eked out gains on rising bets that the Fed will slow its pace of rate increases, as softer economic data over the week indicated that previous hikes have started to flow into the economy.
Claire Alviar, analyst at Philstocks Financial Inc., said the appreciating peso helped buoy investor sentiment.
“Also, foreigners helped lift the bourse with a net inflow of P195.71 million,” she said.
Most actively traded International Container Terminal Services Inc. was up P5.80 to P177.50. SM Investments Corp. was up P30.50 to P830. Ayala Land Inc. was down P0.20 to P26.40. BDO Unibank Inc. was up P3.20 to P127. SM Prime Holdings Inc. was down P0.30 to P32.45. PLDT Inc. was up P33 to P1,618. Ayala Corp. was up P20 to P670. Bank of the Philippine Islands was up P1.05 to P94.30. Universal Robina Corp. was up P5.90 to P122.
Security Bank Corp. was up P4.70 to P86.50.
