Bargain hunters lift stocks
The benchmark Philippine Stock Exchange index (PSEi) closed higher on Tuesday, buoyed by bargain hunters.
Data from the PSE showed that the PSEi added 0.87 percent, or 60.51 points, to 6,987.02. The broader All-Shares index was also up 0.31 percent, or 13.13 points, to 6,987.02.
Trading volume, however, was subdued with 425.5 million shares changing hands for P4.75 billion.
On a per-sector basis, industrial companies led winners with a 1.47-percent gain. It was followed by property, up 1.1 percent, and mining and oil, up 1.04 percent.
Data from the PSE showed 100 gainers against 83 losers while 51 companies closed unchanged.
International Container Terminal Services Inc. was the most actively traded on Tuesday as it gained 0.54 percent to P93.50 a share.
Article continues after this advertisementIt was followed by SM Prime Holdings, down 0.59 percent to P33.50; Ayala Land Inc., up 2.55 percent to P40.20; SM Investments Corp., unchanged at P850, and BDO Unibank Inc., up 1.91 percent to P112 a share.
Other actively traded companies were Jollibee Foods Corp., up 1.68 percent to P252.20; San Miguel Food and Beverage Inc., down 6.08 percent to P85; Vulcan Industrial and Mining, up 11.59 percent to P2.60, and Megawide Construction Corp., down 2.41 percent to P16.20 a share.
