Share prices ended mixed Tuesday as investors took a cue from overseas leads.
The Philippine Stock Exchange index (PSEi) was up 51.31 points to 7,106.01, a 0.73 percent hike.
The broader all shares index was up 15.25 points to 4,402.04, a 0.35 percent hike.
Losers edged gainers 104 to 81 with 46 stocks unchanged. Trading turnover reached P7.49 billion.
The peso closed at 50.39 to the dollar, up from 50.415 on Friday.
The currency opened at 50.46 and hit a high of 50.36 and a low of 50.52. Trading turnover reached $1.15 billion.
Michael Ricafort, Rizal Commercial Banking Corp. chief economist, said the peso was up for most of the day “ahead of the US Federal Reserve/FOMC monetary policy-setting meeting decision, especially on details of the Fed’s tapering of bond purchases/quantitative easing later this year.
“The peso is also slightly stronger ahead of the latest employment data tomorrow and inflation and external trade data on Friday,” he added.
Thailand’s baht, the Philippine peso and the Malaysian ringgit strengthened between 0.1 percent and 0.3 percent as the greenback eased after notching its biggest daily rise in more than four months on Monday.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the market “got off to a strong start to start November as traders weigh a record-high close for US equities and await key central bank decisions amid concerns about elevated inflation.”
“The US 10-year Treasury yield and the dollar were steady ahead of the Federal Reserve meeting. The policy review comes amid price pressures stoked by the most-widespread US supply crunch since the oil crisis of 1973. The Fed is expected to announce a tapering of its massive bond-purchase program,” he said.
Most actively traded PLDT Inc. was steady at P1,642. Ayala Corp. was down P3 to P860.
International Container Terminal Services Inc. was down P3 to P177. BDO Unibank Inc. was up P1.10 to P125.20. Semirara Mining and Power Corp. was Globe Telecom Inc. was up P138 to P3,134. SM Investments Corp. was up P40 to P1,005. Jollibee Foods Corp. was down P6.20 to P229. LT Group Inc. was up P0.12 to P10.18. Converge Information and Communication Technology Solutions Inc. was up P0.70 to P31.10.
