Share prices closed higher Monday on bargain hunting. The peso ended lower.
The Philippine Stock Exchange index was up 69.87 points to 6,850, a 1.03 percent hike.
The broader All Shares index was down 23.53 points or 0.62 percent to 3,811.74.
Gainers edged losers 94 to 91 with 64 stocks unchanged. Trading turnover reached P9.98 billion.
The peso closed at 58.99 to the dollar, down from 58.87 on Friday.
The currency opened at 58.85 and hit a high of 58.80 and a low of 59.
Trading amounted to $1.06 billion.
Currencies in Asian countries gained, reflecting the dip in the US dollar after US President-elect Donald Trump picked hedge-fund manager Scott Bessent, who is expected to push a more phased implementation of trade tariffs, to run the US Treasury.
Manila on Monday began trading interest-rate swaps, a move the central bank said will enhance liquidity and trading in the bond market, crucial for attracting foreign investments.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors followed the latest MSCI rebalancing which came into effect Monday afternoon to trade the market higher.
Most actively traded BDO Unibank Inc. was down P0.30 to P151.70. Bank of the Philippine Islands was down P3.20 to P18. International Container Terminal Services Inc. was up P18 to P415. SM Investments Corp. was down P1 to P882. Manila Electric Co. was up P10.80 to P496.80. Ayala Land Inc. was down P0.10 to P29.90. SM Prime Holdings Inc. was up P0.10 to 27.60. PLDT Inc. was down P50 to P1,300. Metropolitan Bank and Trust Co. was up P2.70 to P79.20. Century Pacific Food Inc. was up P0.25 to P41.50.
