Share prices rose Wednesday as investors had to catch up on the cancelled trading day on Tuesday due to technical glitches in the trading platform.
“Philippine shares closed in the green as Omicron concerns dissipated with many pointing that symptoms are milder versus the Delta variant and the possibility of herd immunity,” said Luis Limlingan, managing director at Regina Capital and Development Corp.
The Philippine`Stock Exchange index (PSEi) was up 50.13 points to 7,091.40, a 0.71 percent hike.
The broader all shares index was up 16.27 points to 3,794.17, a 0.43 percent hike.
Losers edged gainers 108 to 86 with 50 stocks unchanged. Trading turnover reached P6.94 billion.
The peso closed at 50.96 to the dollar, up from 51.30 on Tuesday.
The currency opened at 51.20, and hit a high of 50.89 and a low of 51.33. Trading turnover reached $1.21 billion.
Reuters reported that Asia’s emerging currencies traded mostly lower on Wednesday, with Indonesia’s rupiah and the South Korean won leading losses, as the dollar hovered near a one-week high, buoyed by US policy tightening expectations.
The dollar was buoyed on Tuesday by higher US Treasury yields as bond investors geared up for interest rate hikes from the Federal Reserve by mid-year to curb stubbornly high inflation.
US Treasury yields rose across maturities for a second day on Tuesday, with the benchmark 10-year yield advancing to a six-week high.
Most actively traded Ayala Corp. was down P0.95 to P33.75. AC Energy Corp. was down P040 to P10.10. Metropolitan Bank and Trust Co. was steady at P54. PLDT Inc. was up P73 to P1,885. Solar Philippine Nueva Ecija Corp. was down P0.09 to P1.21. Ayala Corp. was up P10.50 to P843.50. International Container Terminal Services Inc. was up P3 to P198.
Globe Telecom Inc. was up P32 to P3,310. SM Prime Holdings Inc. was up P0.85 to P34.35.
Monde Nissin Corp. was up P0.30 to P16.
