Share prices rose yesterday, tracking overseas leads.
Investors also picked issues that would benefit from a potential rate cut.
The peso was also up.
The Philippine Stock Exchange index was up 20.62 points to 6,687.71, a 0.31 percent hike.
The broader All Shares index was up 8.69 points or 0.24 percent to 3,594.62.
Gainers edged losers 97 to 95 with 42 stocks unchanged. Trading turnover reached P4.22 billion.
The peso closed at 58.295 to the dollar, up from 58.385 on Tuesday.
The currency opened at 58.33 and hit a high of 58.295 and a low of 58.40. Trading turnover reached $1.24 billion.
Most other Asian currencies traded in a tight range as investors continued to bet on US rate cuts later in the year, Reuters reported.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors took to rotating funds “across the board into names that would be prime beneficiaries of a rate cut.”
Most actively traded SM Investments Corp. was up P23 to P923. Ayala Land Inc. was down P0.05 to P31.65. BDO Unibank Inc. was down P0.40 to P139.40. Universal Robina Corp. was up P2.10 to P118.80. International Container Terminal Services Inc. was up P2.40 to P364.40. SM Prime Holdings Inc. was down P0.20 to P29.80. Ayala Corp. was down P3 to P590. JG Summit Holdings Inc. was down P0.65 to P26.85. PLDT Inc. was down P17 to P1,482. Bank of the Philippine Islands was down P0.50 to P120.80.
