Regional sentiment boosts local stocks

Philippine stocks on Wednesday continued to post gains, moving in lockstep with positive sentiments across the region.

The benchmark Philippine Stock Exchange Index (PSEi) was up 0.51 percent, or 34.69 points, to 6,893.98 at Wednesday’s close. The broader all-shares index was up 0.19 percent to 3,972.44.

Sub-sectors closed mixed. Gainers were led by property and holding firms, up 1.36 percent and 0.78 percent, respectively. The mining and oil subsector posted the biggest drop of 1.64 percent, followed by services, 0.27 percent.

A total of 1.54 billion shares changed hands valued at P8.5 billion. Decliners outnumbered gainers 96 to 80 while 36 companies closed unchanged.

Ayala Land Inc. was the most actively traded stock on Wednesday, as it gained 1.19 percent to P34 per share.–Miguel R. Camus