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PSEi climbs back to 8,200

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PSEi climbs back to 8,200

/ 04:01 PM October 02, 2017

The local stock barometer climbed back to the 8,200 level on Monday, riding on a regional upswing driven by upbeat factory gauge out of China and Japan.

The main-share Philippine Stock Exchange index gained 84.85 points or 1.04 percent to close at 8,256.28.

Regional risk-taking was supported by news that China’s September factory activity had expanded at the fastest pace in five years while several indicators out of Japan likewise indicated a pick-up in manufacturing output.

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At the local market, the day’s upswing was led by the holding firm sub-index, which rose by 1.97 percent while the financial and property counters likewise advanced by 0.78 percent and 0.94 percent, respectively.

On the other hand, the industrial, services and mining/oil counters slipped.

“Markets began their positioning to kick off fourth quarter 2017 by buying up the market once more,” said Regina Capital Development managing director Luis Gerardo Limlingan.

“There was also a spillover as US stocks ended the month (of September) at a stronger note,” Limlingan added.

Value turnover for the day amounted to P7.41 billion.

Domestic investors were the ones who mostly supported the day’s upswing as foreign investors were in a net selling position amounting to P271.46 million.

There were 107 advancers that edged out 96 decliners while 52 stocks were unchanged.

Investors picked up shares of GT Capital and RLC, which both surged by over 3 percent, while AGI – the most actively traded company for the day – gained 2.24 percent.

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SM Investments, SM Prime, Ayala Corp., BPI and Security Bank all rose by over 1 percent.

RRHI, which debuted on the PSEi last Sept. 28, added 1.01 percent.

Meralco and DMCI also contributed modest gains to the PSEi.

Notable gainers outside the PSEi were East West Bank (+2.62 percent) and SMC preferred shares (+0.26 percent).

PLDT lost 1.74 percent while URC, Jollibee and BDO all slipped.

EDC, which was replaced by RRHI in the PSEi, fell by 1.96 percent.

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TAGS: Philippine stocks, PSEi
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