Optimism lifts PH stocks; property shares lead the way

The benchmark Philippine Stock Exchange Index (PSEi) rose 1.09 percent, or 84.91 points, to 7,849.94 on Friday—ending the week with a 1.9-percent gain.

Optimism lifted stocks in the country and the region on hopes the Untied States and China would negotiate a truce in an ongoing trade row.

The broader all-shares index on Friday was also up 1.06 percent, or almost 50 points, to 4,741.49 as all subsectors rose, albeit, on relatively thin volume.

Leading the pack were property firms, which rose 1.38 percent, followed by holding companies, up 1.24 percent, and services, up 0.94 percent.

A total of 121 companies closed in the green while 58 declined and 48 were flat.

PSE data showed 428.9 million shares valued at P4.5 billion changing hands on Friday.

The Villar family’s AllHome Corp. was still the most actively traded a day after listing on the PSE. It lost 0.17 percent to P11.54 per share.

It was followed by SM Investments Corp., up 1 percent to 1,010; International Container Terminal Services Inc., up 1.69 percent to P120; SM Prime Holdings Inc., up 0.78 percent to P38.80; and Ayala Corp., up 1.05 percent to P870 per share.

Other actively traded stocks were Metropolitan Bank & Trust Co., up 0.29 percent to P68; BDO Unibank Inc., up 1.38 percent to P147; DMCI Holdings Inc., up 3.93 percent to P9; Ayala Land Inc., up 2.46 percent to P47.95; and Vista Land & Lifescapes Inc., down 1.3 percent to P7.60 per share.