PH stocks continue to rise

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MANILA, Philippines—Local stocks continued their record-breaking climb on Wednesday, bringing the main-index closer to the next critical milestone at 6,100.

The main-share Philippine Stock Exchange index added 42.28 points, or 0.7 percent, to close at 6,091.18, its best finish ever. A new intraday peak was likewise marked at 6,095.07.

The index has recorded new highs every single trading session in the last six days or since trading reopened the new year.

“It’s due to the optimistic outlook plus it’s backed up by a good fundamental environment. Inflation is very tame and interest rates are very low,” said Manny Lisbona, deputy head of PNB Securities.

When interest rates are low, yield-seeking investors tend to increase allocation to equities.

All counters rallied but the biggest gainer for the day was the mining/oil counter (+1.42 percent).  Value turnover amounted to P8.54 billion. There were 109 advancers as against 73 decliners.

The biggest index gainers were Meralco, Robinsons Land, Metrobank, Philex Mining, Aboitiz Equity Ventures, URC, Semirara, SM Prime, Ayala Land and Manila Water.  PLDT, BDO, Megaworld, SM Investments, Metro Pacific Investments and Globe likewise gained.

Among the non-index stocks, Nickel Asia (+5.73 percent) rose in heavy volume. Vista Land was likewise up.

On the other hand, Ayala Corp., Alliance Global and Energy Development Corp. closed lower. There was likewise profit-taking on Puregold and Bloomberry.

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  • Pwe Jade

    Carmelita Pujeda is the evil woman behind the real estate scam proliferating in QC. 
    Her company along with daughter/agent Christine Pujeda-Perez built some properties in Gloria 4 and Jem 2 Subdivisions in Tandang Sora in lots not belonging to her, with fake documents, falsified titles and unsafe structures. This evil lady lives in Tierra Pura, QC. Advise all never deal with this scumbag.

  • http://www.facebook.com/profile.php?id=1661811082 John Farley Bañez

    if i invest? do i have to pay the broker and if it is, how much? 

    • willbillywilly

      Yes, 0.25 – 1% depending on which broker you trade with. You get the lower end if you do online trading otherwise if you deal with traders then you’ll be charge the higher end. If you lack experience, I suggest you buy mutual funds that are focused on equity or the coming ETF so that its the professionals who will handle your investment.

      Word of advice if you trade on your own, NEVER BUY PENNY STOCKS NO MATTER HOW TEMPTING IT MAY BE.

      • http://www.facebook.com/profile.php?id=1661811082 John Farley Bañez

        thank you for your help sir.. I made a decision that I will invest after I graduate in my Business Administrative course.. =) I hope I will able to invest successfully.

  • LeoSanMig

    Looking forward to a very prosperous 2013! My nickelAsia just turned into gold!

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