Stocks buck regional decline

Philippine stocks extended their gains on Thursday amid weakness in regional equities.

The benchmark Philippine Stock Exchange index (PSEi) was up 0.59 percent or 41.57 points to 7,141.25 while the broader All-Shares index rose 0.46 percent or 20.12 points to 4,362.40.

“Philippine investors turned bullish most on the slightly hawkish FOMC [Federal Open Market Committee] minutes, easing crude prices and the temporary halt in the [US-China] trade war,” said Luis Limlingan, managing director at Regina Capital Development.

Subsectors were all positive yesterday, with mining and oil gaining the most at 3.05 percent.

Volume was relatively modest with 457.6 million shares valued at P4 billion changing hands. There were 92 gainers against 85 decliners while 47 companies closed unchanged.

Universal Robina Corp. was the most actively traded on Thursday as it lost 1.01 percent to P146.50 a share.

It was followed by Security Bank Corp., unchanged at P152, Ayala Land Inc., down 0.49 percent to P40.60, SM Prime Holdings, up 1.32 percent to P34.45 and SM Investments Corp., up 2.12 percent to P868 per share.

Chelsea Logistics Holdings Corp. led the day’s gainers as it jumped 17.9 percent to P5.53 a share. It was followed by Nickel Asia Corp., up 10.24 percent to P2.80; Anglo Philippines Holdings Corp., up 10 percent to P0.88; Philodrill Corp., up 9.09 percent to P0.012, and Vulcan Industrial and Mining, up 8.5 percent to P2.68 a share.

Primex led the list of losers as it fell 16.62 percent to P3.01. It was followed by DFNN, down 12.19 percent to P7.71, and SBS, down 10.23 percent to P6.67.