Shares, peso up

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    Share prices ended higher yesterday fuelled by optimism on the prospects of the US-China trade talks.

    The Philippine Stock Exchange index (PSEi) was up 73.5 points to 7,756.72, a 0.96 percent hike.

    The broader all shares index was up 22.22 points to 4,688.39, a 0.48 percent hike.
    Gainers edged losers 116 to 66 with 51 stocks unchanged.

    Trading turnover reached P6.95 billion.

    The peso closed at 51.77 to the dollar, up from 51.86 on Monday.

    The currency opened at 51.87, hit a high of 51.69 and a low of 51.90. Trading turnover reached P1.13 billion.

    Broker SB Equities Inc. said stocks rose as investors turned more optimistic over the US-Sino trade talks later in the week.

    This is in the backdrop of “people still being cautious ahead of the US Federal Reserve minutes and the trade negotiations between Washington and Beijing,” added Luis Limlingan, managing director at Regina Capital Development Corp.

    Most actively traded SM Prime Holdings Inc. was up P0.25 to P38.20. Universal Robina Corp. was up P2.30 to P160. Bloomberry Resorts Corp. was down P0.02 to P11. Ayala Corp. was up P15 to P865. SM Investments Corp. was up P32 to P1,007. Ayala Land Inc. was steady at P46.50. International Container Terminal Services Inc. was down P2.10 to P119.