Philippine stocks rose yesterday, bolstered by improving sentiments globally, given positive economic reports coming out of the United States and Australia. Asian stocks also gained yesterday.
The benchmark Philippine Stock Exchange index (PSEi) was up 2.27 percent, or 152.92 points, to 6,882.45. The broader all-shares index was also higher by 1.74 percent to 3,986.75.
Gains were across the board, with all sub-sectors closing higher. Outperforming other indices were services, up 3 percent, as well as property and holding firms, up 2.64 percent and 2.3 percent, respectively, data from the PSE showed.
A total of 2.99 billion shares valued at P9.42 billion changed hands yesterday. There were 117 gainers versus 71 decliners while 29 companies closed unchanged.
Henry Sy’s SM Investments Corp. was the most actively traded company yesterday. It closed up 2.68 percent to P900.50 a share.
Philippine Long Distance Telephone Co., after a two-day selloff, bounced higher by 3.93 percent to P1,824 a share. Miguel R. Camus