Stocks closed higher Monday on optimism ahead of President Duterte’s first State-of-the-Nation address.
The benchmark Philippine Stock Exchange index (PSEi) gained 0.30 percent, or 23.78 points, to 8,049.13 while the broader all shares index was up 0.27 percent, or 12.95 points, to 4,806.98.
Foreign buying hit P4.75 billion, for a net gain of more than P600 million for the day.
Only the mining and oil sub-sector sank in an otherwise sea of green. Gaining subindices were led by financials, up 0.84 percent, followed by property, up 0.34 percent, services, up 0.24 percent, and holding firms, up 0.22 percent.
Data from the PSE showed that a total of 1.57 billion shares value at P10.18 billion changed hands Monday. Total gainers outnumbered losers, 115 to 85, while 45 companies closed unchanged.
Security Bank Corp. led the list of most actively traded stocks as it gained 0.19 percent to P211.40 a share. This was followed by Ayala Land Inc., up 0.38 percent to P39.95; Cemex Holdings Philippines Inc., up 4.36 percent to P12.46p; SM Prime Holdings Inc., up 0.17 percent to P30.15; SM Investments Corp., up 0.10 percent to P1,026, and Megaworld Corp., up 0.97 percent to P5.18 a share.
Other actively traded companies were Globe Telecom, down 1.58 percent to P2,246; Cirtek Holdings Philippines, up 4.5 percent to P20.90; Ayala Corp., unchanged at P890, and Universal Robina Corp., up 1.32 percent to P199.60 a share. Miguel R. Camus