Share prices ended up Wednesday as investors took to overseas leads to trade the market.
The Philippine Stock Exchange index (PSEi) was up 253.49 points to 5,027.76, a 5.31 percent hike.
The broader all shares index was up 117.18 points to 3,065.13, a 3.98 percent hike.
Gainers edged losers 158 to 44 with 29 stocks unchanged. Trading turnover reached P8.3 billion.
The peso closed at 51.14 to the dollar, down from 50.90 on Tuesday.
The peso opened at 50.85, hit a high of 50.80 and a low of 51.27. Trading turnover reached $642.6 million.
SB Equities Inc. said the market “rallied back to the 5,000 mark as the Dow’s historic rebound further lifted risk-appetite on stimulus plans.”
“(This is) Despite Philippine health officials again announcing the most confirmed (number of) domestic cases to date on Tuesday evening and amid large foreign outflow that extended to eight straight sessions,” it said.
Luis Limlingan, managing director at Regina Capital Development Corp., said “investors bet US lawmakers would deliver soon a stimulus bill to rescue the economy from the damage caused by the coronavirus and shutdowns designed to stop its spread.”
Most actively traded Alliance Global Group Inc. was up P0.26 to P6.40. Ayala Land Inc. was up P1.60 to P30.70. SM Prime Holdings Inc. was up P1.50 to P27. Jollibee Foods Corp. was up P3.45 to P98.45. SM Investments Corp. was up P52.50. Ayala Corp. was up P20.40 to P460. BDO Unibank Inc. was up P6 to P100. Bank of the Philippine Islands was up P3.40 to P55.40. Universal Robina Corp. was up P3.35 to P98.40. PLDT Inc. was up P50 to P971.
