Share prices rose Thursday on reports of faster economic growth in the second quarter of the year.
The peso closed up.
After the opening bell, the government reported the economy expanded by 6.3 percent for the period.
The Philippine Stock Exchange index ended higher by 0.22 percent or 14.10 points to 6,549.27.
The broader All Shares index was up 8.20 percent or 0.23 percent to 3,572.14.
Gainers edged losers 106 to 81 with 41 stocks unchanged. Trading turnover reached $4.1 billion.
The peso closed at 57.316 to the dollar, up from 57.515 on Wednesday.
The currency opened at 57.68, an intraday low, and hit a high of 57.25. Trading turnover reached $1.61 billion.
Currencies in the region appreciated as the dollar hovered near the seven-month low it touched on Monday.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors lauded the surprising economic expansion in the second quarter.
“Compared to other Southeast Asian countries, the country lags just behind Vietnam’s 6.9 percent while overtaking traditional powerhouses such as China, Indonesia and Malaysia,” Limlingan said.
Most actively traded International Container Terminal Services Inc. was up P5 to P357. ACEN Corp. was up P0.41 to P5.50. BDO Unibank Inc. was up P2.10 to P140.20. Globe Telecom Inc. was down P2 to P2,228. Universal Robina Corp. was up P1.10 to P100. PLDT Inc. was up P10 to P1,560. Ayala Corp. was down P1.50 to P597.50.
