Shares up on cherry-picking

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    Share prices ended higher Tuesday as investors took to cherry-picking after recent market declines.

    The Philippine Stock Exchange index was up 31.20 points or by 0.4 percent to 7,912.14.

    The broader all shares index was up 9.46 points or by 0.2 percent to 4,729.72.
    Losers edged gainers 100 to 88 with 50 stocks unchanged. Trading turnover reached P6.22 billion.

    The peso closed at 50.90 to the dollar, down from Monday’s 50.661.

    The currency opened at 50.79, hit a high of 50.74 and a low of P50.90. Trading turnover reached $959.75 million.

    Luis Limlingan, managing director at Regina Capital Development Corp., said “investors decided to buy into the Philippine market after digesting mixed headlines on US-China trade relations.”

    Most actively traded Alliance Global Group Inc. was steady at P11.40. Ayala Land Inc. was up P0.10 to P45. SM Investments

    Corp. was up P1 to P1,069. Ayala Corp. was up P3.50 to P827. SM Prime Holdings Inc. was down P0.10 to P39.80. DMCI Holdings Inc. was up P0.11 to P7.62. BDO Unibank Inc. was up P2.40 to P157.40. Philippine Seven Corp. was steady at P150. Bank of the Philippine Islands was down P1.50 to P94. International Container Terminal Services Inc. was down P0.20 to P122.10.