Share prices rose yesterday, tracking overseas leads.
The peso closed down.
The Philippine Stock Exchange index was up 25.87 points to 6,923.41, a 0.38 percent hike.
The broader All Shares index was up 8.60 points or 0.23 percent to 3,751.41.
Gainers edged losers 105 to 84 with 56 stocks unchanged. Trading turnover reached P4.89 billion.
The peso closed at 56.38 to the dollar, down from 56.111 on Friday. The currency opened at 56.22, an intraday high, and hit a low of 56.40. Trading turnover reached $604.9 million.
A string of inflation data is due this week, including in the Philippines, Taiwan, Thailand and South Korea, which could provide clarity on interest rate paths.
“The risk to inflation continues to be on the upside, in our view, and hence we think the central bank will keep the policy rate unchanged for the rest of this year,” Goldman Sachs said in a note.
Globally, traders will focus on a slew of key US data before the Federal Reserve’s September meeting, including the employment report and non-farm payrolls data for August on Friday.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the local stock market “got off to a lukewarm start for September despite several private and public institutions suspending work due to the heavy downpour.”
“Sentiment got a boost from the US as well which saw their equity markets close in the green over the weekend,” Limlingan said.
Most actively traded International Container Terminal Services Inc. was up P8.80 to P405. SM Investments Corp. was up P10.50 to P895.50. Ayala Corp. was up P13 to P618. Ayala Land Inc. was down P0.45 to P34.85. BDO Unibank Inc. was steady at P152.80. Jollibee Foods Corp. was up P0.20 to P260. Universal Robina Corp. was up P0.10 to P91.10. SM Prime Holdings Inc. was down P0.45 to P30.50. SP New Energy Corp. was up P0.13 to P1.28. PLDT Inc. was down P32 to P1,468.
