Philippine stocks gained on Monday as equity markets across the region remained steady.
The benchmark Philippine Stock Exchange index (PSEi) rose 0.63 percent, or 45 points, to 7,109.03. The broader All-Shares index was up 0.48 percent to 4,353.39.
“With strong economic data readings from the biggest market, Philippine shares traded cautiously higher to kick-start some early window-dressing even as investors questioned the growth sustainability of the (US) economy,” said Luis Limlingan, managing director at Regina Capital.
Sub-indices were mainly positive, with financials rising 1.36 percent, leading gainers. Only property closed in the red as it dropped 0.49 percent.
A total of 552.9 million shares valued at P4.23 billion changed hands yesterday. There were 97 gainers against 78 decliners while 45 companies closed unchanged.
Most actively traded stocks were Philex Petroleum and Ayala Land, which both closed lower. —MIGUEL R. CAMUS