Shares end flat, peso firm at 51.935 to the dollar

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    Share prices ended flat Wednesday as investors took to overseas leads to trade the market.

    The Philippine Stock Exchange index (PSEi) was up 36.15 points to 7,840.86, a 0.46 percent hike.

    The broader all shares index was up 13.16 points to 4,753.77, a 0.28 percent hike.
    Losers edged gainers 102 to 100 with 47 stocks unchanged.

    Trading turnover reached P6.59 billion.

    The peso closed at 51.935 to the dollar, up from 52.31 on Tuesday. It opened at 52.25, hit a high of 51.92 and a low of 52.93. Trading turnover reached $1.28 billion.

    “Philippine shares climbed after reports came out this afternoon that (Hong Kong Chief Executive) Carrie Lam would be withdrawing the extradition bill, bring some calmness to the market. The Hang Seng shot up more than 3 percent as a result,” said Luis Limlingan, managing director at Regina Capital Development Corp.

    “Also, investors will be awaiting the latest CPI (consumer price index) data which comes out tomorrow (Thursday) morning. A handful of analysts forecast that the August reading will fall below the 2 percent mark.  Gold, the safe haven asset, gained after the weak US manufacturing data, and uncertainties in the US-China trade deal and Brexit drove investors to the safe-haven,” Limlingan added.

    Most-actively traded Ayala Corp. was down P8 to P892. Nickel Asia Corp. was up P0.40 to P4.90. Ayala Land Inc. was up P0.10 to P47.40. Phinma Energy Corp. was up P0.11 to P2.86. SM Prime Holdings Inc. was up P0.05 to P34.15. International Container Terminal Services Inc. was down P4.20 to P126. BDO Unibank Inc. was up P3 to 145.