Buoyant regional markets push PH shares back to 8,200
The local stock barometer climbed back to the 8,200 level on Monday, riding on a regional upswing driven by upbeat factory data 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, beginning last quarter trading on a positive note.
Regional risk-taking was supported by news that China’s September factory activity expanded at the fastest pace in five years while several indicators out of Japan likewise indicated a pick-up in manufacturing output.
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.
“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) on a stronger note,” Limlingan added.
On the other hand, the industrial, services and mining/oil counters slipped.
Value turnover for the day amounted to P7.41 billion.
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.
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.
