Share prices ended up Tuesday tracking overseas leads.
The Philippine Stock Exchange index (PSEi) was up 204.57 points, a 3.54 percent hike to 5,987.72.
The broader all shares index was up 96.35 points or 3.09 percent to 3,210.48.
Gainers edged losers 140 to 60 with 40 stocks unchanged. Trading turnover reached P4.59 billion.
Wall Street indexes finished more than 2 percent higher overnight as Treasury yields tumbled after US manufacturing activity rose at its slowest pace in nearly 2-1/2 years, raising fears that the Fed’s aggressive stance might be hurting demand.
Luis Limlingan, managing director at Regina Capital and Development Corp., noted that investors continued the bargain hunt.
“Market moves were brought by the easing of Treasury yield,” he said.
“On the local economic front, factory output catapulted to a three-month higher in September on more robust demand. The latest PH PMI reading by S&P Global Market Intelligence showed that it stood at 52.9 in September from 51.2 in August,” he added.
Most actively traded International Container Terminal Services Inc. was up P2.20 to P165. BDO Unibank Inc. was up P1.60 to P113. SM Investments Corp. was up P34 to P794. Ayala Land Inc. was up P1.05 to P24.05. San Miguel Corp. was down P0.15 to P96.65. SM Prime Holdings Inc. was up P1.40 to P32. Ayala Corp. was up P29 to P645. GT Capital Holdings Inc. was down P6 to P410. Jollibee Foods Corp. was up P5.80 to P240. Universal Robina Corp. was up P4.90 to P116.
