Share prices ended higher Thursday on improved outlook on the possible impact of the coronavirus disease 2019 (COVID-19) Omicron variant.
The Philippine Stock Exchange index (PSEi) was up 87.62 points to 7,234.92, a 1.23 percent hike.
The broader all shares index was up 37.04 points to 3,842.55, a 0.97 percent hike.
Gainers edged losers 108 to 90 with 45 stocks unchanged. Trading turnover reached P8.61 billion.
The peso closed at 50.26 to the dollar, up from Tuesday’s 50.375. The currency opened at 50.32 and hit a high of 50.18 and a low of 50.8. Trading turnover reached $835.55 million.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp. (RCBC), said this is the peso’s strongest close in more than three weeks, “after improved global market risk appetite amid easing of concerns over the Omicron variant.
“(The) peso is also stronger amid less borrowing requirements by the national government from the BSP (Bangkok Central ng Pilipinas) especially for 2022 and to make an advance payment on December 10, before the January 12 maturity as the economy reopens further,” he said.
Most Asian currencies firmed against the greenback on Thursday, led by the Thai baht and Malaysian ringgit, amid waning concerns about the economic impact of the Omicron coronavirus variant and a slowing Chinese factory-gate inflation, Reuters reported.
Luis Limlingan, managing director at Regina Capital and Development Corp., meanwhile said the market went up “on the back of improved investor optimism that the Omicron variant is not severe enough to derail the economic recovery.”
Most actively traded Rizal Commercial Banking Corp. was up P1.50 to P20.30. AC Energy Corp. was up P0.06 to P10.56. Metropolitan Bank and Trust Co. was up P1.45 to P52. Ayala Corp. was up P48 to P876. Medilines Distributors Inc. was up P0.09 to P1.70. Monde Nissin Corp. was up P0.16 to P15.96. BDO Unibank Inc. was up P40.90 to P124.90. SM Prime Holdings Inc. was steady at P36. PLDT Inc. was up P30 to P1,720. Universal Robina Corp. was down P2 to P129.50.
