Share prices ended mixed Thursday as investors tracked overseas leads.
The Philippine Stock Exchange index was up 19 points to 7,203.72, a 0.26 percent hike.
The broader all shares index was up 4.08 points to 4,437.17, a 0.09 percent hike.
Losers edged gainers 123 to 80 with 42 stocks unchanged. Trading turnover reached P7.68 billion.
The peso closed at 50.595 to the dollar, down from Wednesday’s 50.57. It opened at 50.55, hitting a high of 50.53 and a low of 50.61. Trading turnover reached $782.25 million.
Most Asian currencies held steady on Thursday after the US Federal Reserve said it would not rush to raise interest rates but approved plans to start unwinding its stimulus program, while China’s yuan touched a near one-week high, Reuters reported.
Luis Limlingan, managing director at Regina Capital Development Corp., said the market “sustained solid gains with more index heavyweights reporting earnings and as the Federal Reserve said it will begin trimming its monthly bond purchases in November with plans to end them in 2022.”
“The US central bank will be reducing the pace of its monthly bond buying by $10 billion for Treasury Securities and $5 billion for agency mortgage-backed securities. It also left interest rates unchanged near zero. The 10-year U.S. Treasury yield moved higher after the Fed’s announcement,” he said.
Most actively traded AllDay Marts Inc. was down P0.16 to P0.74. Converge Information and Communications Technology Solutions Inc. was up P1.45 to P33. Globe Telecom Inc. was up P6 to P3,160. AC Energy Corp. was up P0.06 to P12.26. Bank of the Philippine Islands was up P0.40 to P91.40. SM Investments Corp. was down P8 to P990. SM Prime Holdings Inc. was down P0.15 to P34.55. Universal Robina Corp. was down P0.30 to P132. Monde Nissin Corp. was up P0.08 to P16.26. International Container Terminal Services Inc. was steady at P178. – Ruelle Castro