Share prices ended up Wednesday as investors look forward to a pause in rate hike by the Bangko Sentral ng Pilipinas (BSP).
The peso closed down.
The Philippine Stock Exchange index was up by 46.21 points or 0.71 percent to 6,635.11.
The broader All Shares index rose 14.48 points or 0.41 percent to 3,533.84.
Losers edged gainers 97 to 93 with 41 shares unchanged. Trading turnover reached P4.34 billion.
The peso closed at 56.20, down from 56.03 on Tuesday.
The currency opened at 56.15 and hit a high of 56.05 and a low of 56.29. Trading turnover reached $1.64 billion.
Claire Alviar, analyst at Philstocks Financial Inc., said the market’s uptick is a result of investors pricing in the possibility of a pause in the BSP’s rate hike when it meets today, Thursday.
“Moreover, the surge in total foreign investment pledges to the Philippines helped in lifting the sentiment,” Alviar said.
Most actively traded BDO Unibank Inc. was down P0.40 to P136. Ayala Corp. was up P14 to P684. Ayala Land Inc. was up P0.50 to P27. GT Capital Holdings Inc. was up P12 to P507.
SM Investments Corp. was up P9.50 to P940. SM Prime Holdings Inc. was up P0.60 to P34.
Jollibee Foods Corp. was up P1 to P227. Metro Pacific Investments Corp. was steady at P4.43. Bank of the Philippine Islands was up P0.90 to P105. Monde Nissin Corp. was up P0.09 to P8.88. – Ruelle Castro
