Bargain-hunters lift PH stocks

Philippine stocks saw a rebound on Tuesday as bargain hunters entered the scene.

The benchmark Philippine Stock Exchange index (PSEi) gained 0.64 percent, or 43.70 points, to 6,859.29 while the broader all-shares index was also up 0.31 percent to 3,964.86.

Sub-sectors were mixed, however, by the closing bell with gainers led by industrial, up 1.03 percent, and property stocks, up 0.87 percent. The two decliners were services and mining and oil, which fell 1.43 percent and 0.47 percent, respectively.

A total of 1.55 billion shares valued at P6.99 billion changed hands, data from the PSE showed. Still, decliners led gainers, 109 to 72, while 32 companies closed unchanged.

Gokongwei-led Universal Robina Corp. was the most actively traded company as it gained 1.99 percent to P190 a share. It was followed by SM Prime Holdings Inc., up 0.7 percent to P20.10; Philippine Long Distance Telephone Co, down 2.6 percent to P2,170; BDO Unibank Inc., unchanged at P102, and Ayala Land Inc., up 1.36 percent to P33.60 a share.–Miguel R. Camus